Sentiment Rebound

Chart of the Day





Signs of midweek fatigue in the broader crypto market as FOMO sentiment catches on. After breaking above the $50k level, the price of BTC briefly dipped below $48k. Once again, MicroStrategy added fuel to the flaming bullish sentiment. The Nasdaq-listed software company purchased an additional 3,907 bitcoins for $177 million in cash, tipping its total Bitcoin acquisition over 100k; each bitcoin priced at an average of $26,769. Since the correction, funding rates across Bitcoin and altcoin markets have calmed, indicating less exuberance among leveraged spectators. 

Talk of the Town



Citigroup could be responding to a surge in client demand for crypto exposure by banking on BTC futures. Sources say that the banking giant is reportedly working through regulatory approval to begin trading bitcoin futures contracts on the Chicago Mercantile Exchange (CME), and actively recruiting a crypto-focused team.