The investments manager increased a crypto bet it began chasing just last week.
Analysts see the possibility of further selling pressure despite short-term relief.
Positive news from El Salvador couldn't completely overcome negative news out of China.
Bitcoin busted out a quick 5% gain early Thursday on positive news from that continent before losing some steam.
The market cap of gold-backed tokens has surged 30-fold since the start of 2020, according to one research firm.
Pessimistic news isn’t stopping the crypto spot markets from looking bullish Wednesday.
Ether is providing some with hope as its momentum, in the form of volume, continues to beat bitcoin for the 10th straight day.
Ether’s dominance is at 19.78%, the highest it has been since May 16.
Bitcoin dipped below $36K and ether fell under $2.6K on Tesla CEO’s bearish tweets, wiping out some leveraged players in the market.
How do you trade bitcoin now? Carefully.
Major cryptocurrencies saw a pop in anticipation of a more environmentally friendly mining outlook. Then they slipped.
Action in the ether market might take the spotlight from bitcoin over time due to very different mechanics between the two assets.
Within two hours of the State Council statement, BTC fell 11%, based on CoinDesk 20 data.
BTC had climbed from $35,709 to as high as $42,441. Then the slide started.
Liquidations, China and even Elon Musk may be factors in markets falling.