Last week, US-based cryptocurrency exchange Coinbase announced that it is working with BlackRock, the world's largest asset manager, to develop cryptocurrency trading for select clients. Making an assessment on the subject, Ark Invest founder and CEO Cathie Wood suggested that BlackRock's entry into the crypto ecosystem could have a significant impact on Bitcoin's price performance.
Cathie Wood announced in her new Youtube broadcast that they are working on corporate companies entering the crypto ecosystem. In addition, Wood suggested that BlackRock's entry into the crypto ecosystem could create a very significant demand in the crypto money market, and shared his thoughts that this could have a big impact on Bitcoin's price performance. According to Ark Invest CEO Cathie Wood, with the potential increase in demand, Bitcoin (BTC) may start a new rally in this process.
The leading cryptocurrency Bitcoin (BTC), which has consolidated between $ 22,500 and $ 23,500 in the last 1-week time frame, has lost 4% in the last 24 hours, falling below $ 23,000 and trading at $ 22,940. The crypto money market has started to decline again with the effect of the loss in value in Bitcoin. Ethereum (ETH) started trading at $1,680 with its recent depreciation. The total market cap of cryptocurrencies fell to $1.12 trillion. In addition, according to Coinglass data, short and long positions worth approximately 250 million dollars were liquidated in the last 24 hours due to the effect of increasing volatility in the crypto money market.
In what range will Bitcoin watch?
According to CoinShares, net capital inflows into crypto funds have slowed over the past week, with Ethereum making up the most investment at $16 million. Mike Novogratz, CEO of investment firm Galaxy Digital, thinks that Bitcoin will stay in the $20,000 to $30,000 band for a while.
USDC issuer Circle has blocked 75,000 USDC in Tornado Cash-linked wallet addresses following the decisions of the US Treasury Department. The U.S. Treasury Department announced that it has imposed sanctions for North Korean hacker group Lazarus Group for carrying out a cryptocurrency laundering action using Tornado Cash. The Reserve Bank of Australia is working with the Digital Finance Institutional Research Center (DFCRC) to explore options for the practical use of CBDC.
El Salvador President Nayib Bukele said that with the legalization of Bitcoin, tourism activities in the country have increased by over 30%. Iran announced that it successfully completed the first $10 million import transaction of cryptocurrencies in an effort to circumvent US sanctions.