Everything you need to make sense of the crypto markets and beyond By the CoinDesk Markets Team - Edited by Bradley Keoun March 29, 2021 Sponsored by (Price data as of March 29 @11:00 UTC) Good morning. Here's what we're writing about:
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Market Moves by Omkar Godbole
Bitcoin Breaks Out, Near $58K, After Visa's USDC Move Bitcoin is rising in the wake of payments giant Visa announcing support for USD Coin (USDC), a stablecoin whose value is pegged to the U.S. dollar.
The biggest cryptocurrency by market value is trading higher on the day, near $58,000 at press time, with the daily chart showing a bullish breakout out from a two-week-long descending channel identified by trendlines connecting March 14 and March 20 highs and March 16 and March 25 highs.
Prices have risen by nearly $2,000 since Reuters early today reported Visa's decision to allow the use of stablecoin USDC to settle transactions on its payment network.
Bitcoin daily price chart, showing breakout from trend. (TradingView/CoinDesk)
--Omkar Godbole
Read the original story here: Bitcoin Breaks Out, Near $58K, After Visa Adds Support for Stablecoin USDC
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Technician's Take by Damanick Dantes Bitcoin Rallies From Support, Resistance Around $60K Bitcoin (BTC) held support around $50,000 after registering an oversold signal on the four-hour relative strength index (RSI). The next level of resistance is seen around $60,000.
Bitcoin's four-hour chart shows a bounce after the RSI indicator signaled oversold conditions. (TradingView/CoinDesk) --Damanick Dantes
BOLO Be on the look out for these upcoming events:
Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
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The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20. These assets constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
CoinDesk's Christine Kim and Will Foxley, along with Consensys' Ben Edgington, present a weekly podcast series on the live development of Ethereum 2.0 and its potential impact on the crypto markets.
In each episode, the team discusses major news events related to Eth 2.0 from addressing skepticism to the consequences of node slashing, and gives updates on the status of CoinDesk's own Eth 2.0 validator.
Listen to Mapping Out Eth 2.0 every Thursday on the CoinDesk Podcast Network.
ICYMI In case you missed it, here's this past Friday's episode of "First Mover" on CoinDesk TV:
$6B Options Expiry, Markets Analysis, Ethereum 2.0 Staking, NFT for Charity Investors eager to see if a record $6B bitcoin options expiry sends BTC in a new direction. Does April look bullish? Shaun Fernando, of derivatives exchange Deribit, joins "First Mover" to discuss. Also, publicly-traded bitcoin miner BTCS announces its Ethereum 2.0 staking operation is producing revenues from all 200 of its nodes. We hear from BTCS CEO Charles Allen. Plus, artist Christopher Florentino on his creation "The Elephant in the Room" and his upcoming NFT sale for charity.
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A message from CoinDesk CoinDesk's Christine Kim and Will Foxley, along with Consensys' Ben Edgington, present a weekly podcast series on the live development of Ethereum 2.0 and its potential impact on the crypto markets.
In each episode, the team discusses major news events related to Eth 2.0 from addressing skepticism to the consequences of node slashing, and gives updates on the status of CoinDesk's own Eth 2.0 validator.
Listen to Mapping Out Eth 2.0 every Thursday on the CoinDesk Podcast Network.
Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. ATTENTION: Scammers have been sending fraudulent emails with links to sites disguised to look like coindesk.com. If you are in doubt about a link, type https://www.coindesk.com directly into your browser; do not copy and paste. Remember, if something seems too good to be true, it probably is.
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