"Bear-Market Blues" Test Mettle of Most Devout Bitcoin Holders

501
Comment
1

"Bear-Market Blues" Test Mettle of Most Devout Bitcoin Holders

Bloomberg2022-06-14

Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

501

Report

Comment

hphoa
·2022-06-14
Good
Reply
Like
Report
Jerryoic
·2022-06-14
Like
Reply
Like
Report
tigernaut
·2022-06-14
👍🏻
Reply
1
Report
JeremyCcccc
·2022-06-14
Oh no
Reply
1
Report
Carrotski
·2022-06-14
I guess a handful of cryptos will stay should regulators cave into the industry deeply. Need to weed out many electronic cash printers. Seems like it's the only space there where one can do many wrong things and will be respected with the spirit of capitalism. Cheers mate.
Reply
1
Report
AuntieAaA
·2022-06-14
hope ok
Reply
2
Report
Joseph71
·2022-06-14
The musical chairs game has ended, so few chairs, so many players...
Reply
2
Report
TigerHulk
·2022-06-14
Ouch....bitcoins
Reply
1
Report
Atcw
·2022-06-14
Like
Reply
2
Report
Icecream29
·2022-06-14
Ok
Reply
1
Report
jingsheng
·2022-06-14
ok
Reply
1
Report
WDnemo
·2022-06-14
Who will be left holding the can?
Reply
2
Report
Ahsiang
·2022-06-14
Omg
Reply
1
Report
Rara08
·2022-06-14
Ok
Reply
2
Report
Richard0208
·2022-06-14
Good
Reply
1
Report
Meerasha
·2022-06-14
resistance is still there..its not all doomsday scenario. am confident there are many large and retail investors who actually believe in btc and will continue to support it.
Reply
2
Report
Tiongwee
·2022-06-14
Like
Reply
2
Report
Chillman
·2022-06-14
✅
Reply
2
Report
苗派
·2022-06-14
Tumble......
Reply
3
Report
EzyMoolah
·2022-06-14
Ok
Reply
4
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1104263987?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-06-14 07:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1104263987","market":"other","top_or_hot":-1,"title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","media":"Bloomberg","content":"<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BITO","symbol_name":"ProShares Bitcoin Strategy ETF","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","article_id":"1104263987","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","pubTimestamp":1655164325,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated","BTF":"Valkyrie Bitcoin Strategy ETF"},"translate_title":"“熊市蓝军”考验最虔诚的比特币持有者的勇气","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BITO":0.9,"BTF":0.9,"MSTR":0.9},"content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9052597502,"gmtCreate":1655192480306,"gmtModify":1676535578611,"author":{"id":"3578790486524477","authorId":"3578790486524477","name":"hphoa","avatar":"https://community-static.tradeup.com/news/28a11e936497493af7ee5ccdc32238a3","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052597502","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052277381,"gmtCreate":1655187489243,"gmtModify":1676535578071,"author":{"id":"3566964893686628","authorId":"3566964893686628","name":"Jerryoic","avatar":"https://static.tigerbbs.com/cdddd03a99beddec060abfd42dde0207","vip":1,"hat":"https://static.tigerbbs.com/7b75ce0c34afff716602792a5d0929dd","crmLevel":5,"crmLevelSwitch":1},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052277381","repostId":1104263987,"repostType":2,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052248664,"gmtCreate":1655184833058,"gmtModify":1676535577751,"author":{"id":"3567239827558758","authorId":"3567239827558758","name":"tigernaut","avatar":"https://static.tigerbbs.com/66e331c670eb88443b88c6bdb76224cf","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":4,"crmLevelSwitch":1},"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052248664","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052241918,"gmtCreate":1655184591334,"gmtModify":1676535577702,"author":{"id":"4089499026613770","authorId":"4089499026613770","name":"JeremyCcccc","avatar":"https://static.itradeup.com/news/110f1753ebe99c114721ba94b7030c57","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052241918","repostId":1104263987,"repostType":2,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052256962,"gmtCreate":1655183069356,"gmtModify":1676535577422,"author":{"id":"3554971949142483","authorId":"3554971949142483","name":"Carrotski","avatar":"https://community-static.tradeup.com/news/074e88c8a8bea42375bbadebd37a80b9","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":3,"crmLevelSwitch":0},"htmlText":"I guess a handful of cryptos will stay should regulators cave into the industry deeply. Need to weed out many electronic&nbsp;cash printers. Seems like it's the only space there&nbsp;where one can do many wrong things and will be respected with the spirit of&nbsp;capitalism. Cheers mate.","listText":"I guess a handful of cryptos will stay should regulators cave into the industry deeply. Need to weed out many electronic&nbsp;cash printers. Seems like it's the only space there&nbsp;where one can do many wrong things and will be respected with the spirit of&nbsp;capitalism. Cheers mate.","text":"I guess a handful of cryptos will stay should regulators cave into the industry deeply. Need to weed out many electronic cash printers. Seems like it's the only space there where one can do many wrong things and will be respected with the spirit of capitalism. Cheers mate.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052256962","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052258690,"gmtCreate":1655183002510,"gmtModify":1676535577414,"author":{"id":"3583049143664216","authorId":"3583049143664216","name":"AuntieAaA","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"hope ok","listText":"hope ok","text":"hope ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052258690","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052251095,"gmtCreate":1655182665817,"gmtModify":1676535577391,"author":{"id":"4087342304395930","authorId":"4087342304395930","name":"Joseph71","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"The musical chairs game has ended, so few chairs, so many players...","listText":"The musical chairs game has ended, so few chairs, so many players...","text":"The musical chairs game has ended, so few chairs, so many players...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052251095","repostId":1104263987,"repostType":2,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052250393,"gmtCreate":1655182010412,"gmtModify":1676535577336,"author":{"id":"4111448269923362","authorId":"4111448269923362","name":"TigerHulk","avatar":"https://community-static.tradeup.com/news/7e7eab37ff9d954e24641370934ae3c0","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":6,"crmLevelSwitch":1},"htmlText":"Ouch....bitcoins&nbsp;","listText":"Ouch....bitcoins&nbsp;","text":"Ouch....bitcoins","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052250393","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052298424,"gmtCreate":1655174384168,"gmtModify":1676535575970,"author":{"id":"3582695199024912","authorId":"3582695199024912","name":"Atcw","avatar":"https://static.tigerbbs.com/7d7d61c71a7435c18d8cb23eaf6df1f5","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052298424","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052291416,"gmtCreate":1655174224435,"gmtModify":1676535575952,"author":{"id":"3581845207696926","authorId":"3581845207696926","name":"Icecream29","avatar":"https://static.tigerbbs.com/6746e5ce0bf3204954f46e4cb8b1d034","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052291416","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052291538,"gmtCreate":1655174217524,"gmtModify":1676535575952,"author":{"id":"3581677245508986","authorId":"3581677245508986","name":"jingsheng","avatar":"https://static.tigerbbs.com/d8033cad6345c7bb7d312f5a8020404a","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052291538","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052291083,"gmtCreate":1655174042542,"gmtModify":1676535575928,"author":{"id":"3575333960287526","authorId":"3575333960287526","name":"WDnemo","avatar":"https://static.tigerbbs.com/2241a941fc1eb6cca28c7a714cba1571","vip":1,"crmLevel":8,"crmLevelSwitch":0},"htmlText":"Who will be left holding the can?","listText":"Who will be left holding the can?","text":"Who will be left holding the can?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052291083","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052299658,"gmtCreate":1655173950674,"gmtModify":1676535575895,"author":{"id":"3582617881962608","authorId":"3582617881962608","name":"Ahsiang","avatar":"https://static.tigerbbs.com/310f96e7696af85ae33ece774a483d15","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052299658","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052207175,"gmtCreate":1655173640797,"gmtModify":1676535575856,"author":{"id":"3579125484417577","authorId":"3579125484417577","name":"Rara08","avatar":"https://static.tigerbbs.com/ee915a47f3c554f599dce721c2397b4d","vip":1,"hat":"https://static.tigerbbs.com/1c1eed764d9c7ff83dc093fbb9a96bc2","crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052207175","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052208788,"gmtCreate":1655173213444,"gmtModify":1676535575748,"author":{"id":"4087716708608470","authorId":"4087716708608470","name":"Richard0208","avatar":"https://static.tigerbbs.com/480220c46834a37392a97ee3b9004ea1","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052208788","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052208287,"gmtCreate":1655173158649,"gmtModify":1676535575764,"author":{"id":"4115963528526532","authorId":"4115963528526532","name":"Meerasha","avatar":"https://community-static.tradeup.com/news/2a8a859ed63b4a2c3870eac78c938a27","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"resistance is still there..its not all doomsday scenario. am confident there are many large and retail investors who actually believe in btc and will continue to support it.","listText":"resistance is still there..its not all doomsday scenario. am confident there are many large and retail investors who actually believe in btc and will continue to support it.","text":"resistance is still there..its not all doomsday scenario. am confident there are many large and retail investors who actually believe in btc and will continue to support it.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052208287","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052678829,"gmtCreate":1655172095161,"gmtModify":1676535575421,"author":{"id":"3573775111920367","authorId":"3573775111920367","name":"Tiongwee","avatar":"https://static.tigerbbs.com/e90910e406e67c77f42e225b16b69020","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052678829","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052678081,"gmtCreate":1655172079843,"gmtModify":1676535575428,"author":{"id":"3558275010133966","authorId":"3558275010133966","name":"Chillman","avatar":"https://static.tigerbbs.com/26d692768260a0369516e9c9a49897ec","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"✅&nbsp;","listText":"✅&nbsp;","text":"✅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052678081","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052670087,"gmtCreate":1655171676349,"gmtModify":1676535575318,"author":{"id":"3579215816370312","authorId":"3579215816370312","name":"苗派","avatar":"https://static.itradeup.com/news/3e240c0ff43f51cf950707d226f79472","vip":1,"crmLevel":3,"crmLevelSwitch":1},"htmlText":"Tumble......","listText":"Tumble......","text":"Tumble......","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052670087","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052644233,"gmtCreate":1655171624422,"gmtModify":1676535575265,"author":{"id":"3581634665667334","authorId":"3581634665667334","name":"EzyMoolah","avatar":"https://static.tigerbbs.com/987a65562727b7b97634a2e241955abb","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052644233","repostId":1104263987,"repostType":4,"repost":{"id":"1104263987","pubTimestamp":1655164325,"share":"https://www.laohu8.com/m/news/1104263987?lang=&edition=full","pubTime":"2022-06-14 07:52","market":"us","language":"en","title":"\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104263987","media":"Bloomberg","summary":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside","content":"<html><head></head><body><ul><li>Latest leg down sends long-term owners into the red, UBS says</li><li>It does feel like there’s more downside to come, says Cincotta</li></ul><p>With Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.</p><p>Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.</p><p>“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”</p><p><img src=\"https://static.tigerbbs.com/d2ad582a8917c3abdea0002dd8ae493e\" tg-width=\"600\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/>One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.</p><p>A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.</p><p>Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of <a href=\"https://laohu8.com/S/MSTR\">MicroStrategy Inc.</a> fell more than 25%.</p><p><img src=\"https://static.tigerbbs.com/604f46937707b7f76b49323b9551d2e7\" tg-width=\"600\" tg-height=\"529\" referrerpolicy=\"no-referrer\"/>Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.</p><p>“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”</p><p><img src=\"https://static.tigerbbs.com/5ac961672ef47e4ecb04e4af8c816cca\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/>Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.</p><p>The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”</p><p>Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”</p><p>Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.</p><p>UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”</p><p>Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.</p><p>“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Bear-Market Blues\" Test Mettle of Most Devout Bitcoin Holders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTF":"Valkyrie Bitcoin Strategy ETF","BITO":"ProShares Bitcoin Strategy ETF","MSTR":"MicroStrategy Incorporated"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-13/-bear-market-blues-tests-mettle-of-most-devout-bitcoin-holders?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104263987","content_text":"Latest leg down sends long-term owners into the red, UBS saysIt does feel like there’s more downside to come, says CincottaWith Bitcoin caught in the throes of its worst slide in years, analysts are wading through any number of indicators to see at what point even more investors might start to throw in the towel.Bitcoin, down as much as 17%, fell to as low as $22,603 on Monday, putting it squarely below the average investor cost base of $23,500, according to UBS. That means prices have declined enough to test even long-term holders, who up until now in the 2022 drawdown were largely in the green with their investments.“Bear-market blues have set in among even the most ardent crypto proponents,” said James Malcolm, head of foreign exchange and crypto research at UBS. “Capitulation can come in many forms. Equally, relief too as we are now in full-blown panic mode, and the bar for a hawkish Fed this week is pretty high.”One way this could snowball is if miners, whose businesses have been under “significant pressure” due to high energy costs and capex commitments, start capitulating to sell down their holdings of existing coins, he said. Their sales last month coincided with a lurch lower, for instance. “There is little positive news to offset such concerns,” Malcolm said.A 17% plunge in Bitcoin at the start of the weekbrought it downto its lowest level since the end of 2020. Other cryptocurrencies were also in the gutter: the MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 17%, also its lowest point since December 2020.Meanwhile, the ProShares Bitcoin Strategy ETF (ticker BITO) and the Valkyrie Bitcoin Strategy ETF (BTF) each lost as much as 20%, the most since their inceptions at the end of 2021. Shares of MicroStrategy Inc. fell more than 25%.Partly, digital-asset investors have been spooked by crypto-lender Celsius Network Ltd. pausing withdrawals, swaps and transfers, though the broader market remains under pressure after an inflation print came in hotter-than-expected last week, meaning that the Federal Reserve will have to be aggressive in its attempts to cool rising prices.“It does feel like there is more downside to come,” Fiona Cincotta, senior financial markets analyst at City Index, said in an interview. “Down to $20,000 is something that we should be watching for.”Market-watchers have been obsessed with figuring out who is getting hurt during this year’s drawdown. Many retail investors and institutions had gotten in just over the past year or two. But, with Monday’s slide, Bitcoin has wiped out all its gains over the past year and is now hovering around December 2020 levels.The number of anonymous Bitcoin addresses in the money, meaning those that acquired their holdings at prices below today’s, has reached lows not seen since March 2020, which analysts at Bequant say points to “capitulation.” Elsewhere, strategists at Glassnode say the $20,560 to $23,600 span is where the market might see a “full-scale capitulation scenario.”Steve Sosnick, chief strategist at Interactive Brokers LLC, is watching the $20,000-$21,000 range because MicroStrategy, a large Bitcoin holder, might have to offload some of its coins at that point. “We’ve taken out many of the prior support levels that we would have established since the run-up in late 2020,” he said in an interview. “When there’s this idea of a looming potential margin-call driven seller out there, yeah, the low $20,000, that’s a real line in the sand.”Bitcoin hit a high of $19,041 in December 2017, its last cycle. Matt Maley, chief market strategist for Miller Tabak + Co., says that level will be important to watch. It forms the “old” resistance level, which makes it a new key support. “When it broke above that resistance level in 2020, it skyrocketed higher. So it needs to hold that level on this decline,” he said.UBS’s Malcolm points to a number of hacks and outages, as well as regulators getting more serious about the crypto space. “None of this is to argue that crypto is going to slide into oblivion,” he said. “Yet what it does point to is how the future will look very different. Players will have to embrace regulation and collaborate with existing financial service providers.”Chiente Hsu, co-founder and CEO at ALEX, a DeFi platform, strikes a hopeful note.“Crypto is a high-volatility sector. So we feel the ups and downs much more,” she said. “There will be projects gone, for sure, but crypto won’t cause systemic risk.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":501,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}