Crypto Espresso: Your quick shot of the latest crypto moves and news
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Your quick shot of the latest crypto moves and news, the Crypto Espresso is brought to you by Capital.com Australia (AFSL 513393), a multi-award winning global investment trading platform.
Overnight the value of Bitcoin – itself a fascinating ‘fin-existen-cial’ concept – slipped quietly to its lowest ebb in four months – circa US$39,800 – deteriorating in the face of looming rate rises and as the 10-year US Treasury yield continued its nefarious 2022 spiky bent.
After slipping below the key $US40k mark, prices bounced slightly and a short time ago BTC was trading above US$41,000. But it looks like volatility might be on the way.
These new year wobbles across global crypto markets largely follow the same uncertain approach to equities trading – the wholesale sacrifice of momentum stocks in favour of cyclical and value names.
So is BTC’s market dominance done?
And far more importantly, what to make of the SUSHI surge? Is the native token of the automated market maker SushiSwap, too much to swallow?
It’s Tuesday morning in Sydney, we’d better get you all caught up:
Crypto selloff continues as investors remain bearish
Last week’s cryptocurrency selloff continued Monday as bitcoin briefly dropped below the $US40,000 per unit mark by around 0130 AEDT this morning. The moves also pushed the broader cryptocurrency market lower.
What does BTC’s slide mean for its market dominance (and for investors)?
Bitcoin’s falling dominance among cryptocurrencies may signal the end of extreme price volatility for the first virtual token, experts believe. The crew at Capital.com walk you through what this metric says about the digital currency market and BTC’s prospects as an investment?
UK crypto news: We are “officially in bear market”: traders
The cryptocurrency market was slightly up in London morning trading, after a weekend where BTC dropped to its lowest levels since September. The overall cryptocurrency market capitalisation has crept up 1.19% over the last 24 hours.
SUSHI coin price prediction: can SushiSwap rebound?
Following a Christmas 100% surge to over $10, SUSHI, the native token of the automated market maker SushiSwap, has fallen back towards its pre-festive lows of $6.71. After a turbulent 2021 and as new AMMs emerge, the key question is what is the future of SushiSwap in 2022?
Bitcoin cash price prediction: is the altcoin a dip buy?
Bitcoin cash continues to lose value, including another 4% on 10 January, totalling a 51% drop since its spike in November. At the time of writing it held a market capitalisation of $6.77bn on a price of $357. With bitcoin’s influence waning, is this an opportunity for BCH?
GALA coin price prediction after Binance listing
Blockchain gaming developer Gala Games is seeing the price of its GALA token continue to fall from its November peak with no sign of serious resistance. On 10 January it was 62% off its high. Other gaming cryptos such as MANA and SAND have not seen the same level of loss.
This article was developed in collaboration with Capital.com Australia (AFSL 513393), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.