Author: Editorial Office CVJ.CH

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Renewed rejection at 40’000 USD resistance zone The reporting week started auspiciously for the bulls. On Sunday evening, the series of lower highs formed since May 19 was broken, indicating a change in sentiment. The break came with a close of 39’000 USD on Sunday and was underlined on Monday. Follow-up buying led accordingly to the 40’000 resistance zone and pushed the Bitcoin price to 40’539 USD. On Tuesday, however, Bitcoin lacked the strength to sustainably lift above these resistances, and a slightly lower daily closing price than the previous day…

The University of Basel’s Center for Innovative Finance (CIF) decided to make its introductory “Bitcoin, Blockchain and Cryptoassets” bachelor’s course open access. Some of its courses have been around for years and enjoyed decent popularity among students. The University of Basel (UniBas) has been offering Blockchain courses since 2017. From courses on Bitcoin and Public Ledgers or Smart Contracts to seminars diving deeper on more advanced topics: Students have many opportunities to learn the foundations of this promising technology. UniBas also launched the Blockchain Challenge, where real world challenges from industry partners are tackled by groups of students. Attracting students…

The Travel Rule Protocol Working Group, a global independent industry body of leading virtual asset service providers (VASPs) dedicated to creating standards that adhere to the Financial Action Task Force’s (FATF) “Travel Rule” recommendations, is launching version 2 of its protocol. The free, easy-to-use standard for communications between VASPs encourages mainstream adoption of virtual assets by enabling compliance with anti-money-laundering (AML), counter-terrorism-financing and know-your customer (KYC) protocols in line with the FATF’s Travel Rule recommendations. Version 2 of compliance protocol The new Travel Rule Protocol (TRP) update builds upon the previous version 1.1.0 adding a simplified workflow for end users…

Thailand has recently imposed restrictions on cryptocurrency trading. The South-east Asian nation’s Securities and Exchange Commission (SEC) has implemented a ban on various types of blockchain currencies such as meme tokens and NFTs. According to the Thai SEC, the new rules aim to protect traders and users from cryptocurrencies that have “no clear target or substance” and whose prices are influenced by social media trends and influencers. This includes Dogecoin (DOGE) in particular, whose volatility is heavily driven by tweets from Elon Musk. In addition to Dogecoin, non-fungible tokens (NFTs) were also the talk of the town earlier this year.…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Markets trended downwards last week following several volatility-inducing macro events. Bitcoin is currently the only top 10 asset with positive returns since the start of June. Volume Dynamics: June trading volume is but a fraction of May’s all time highs despite persistent volatility. Order Book Liquidity: Price slippage for Ethereum and Bitcoin markets is now…

The Swiss National Bank (SNB) is continuing its experiments in the field of central bank currencies (CBDCs). “Project Jura” is investigating cross-border payment processing in cooperation with the central bank of France. The G20 has prioritised the improvement of cross-border and has submitted a multi-year timeline to coordinate efforts in this regard. The current experiment contributes to this work. “Project Jura” is designed to explore how wholesale CBDCs could increase the speed, efficiency, and transparency of cross-border use cases. The Bank for International Settlements (BIS) supports central bank experiments on public goods in technology. Experiments by the Swiss National Bank…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Approaching Resistance Zone 40’000 USD During the reporting week, consolidation continued in the new area after the May 19 sell-off. On Monday, declines led the Bitcoin price to the 33’600 USD, below the respective lows of the previous week. This prompted a retest of the 30’000 USD support zone established over the last 25 trading days on Tuesday. The daily low came about just below 31’000 USD, however, the price recovered again to 33’372 USD by the close of trading. Due to the fact that on the renewed test of the…

Social media in China is blocking recent search results, and suspending the accounts of popular crypto-related content creators. If the situation continues, then this appears to be the latest step in Beijing’s increasing censorship of cryptocurrency information over the Internet. Searches for the Chinese or English names of Huobi, Binance and OKEx have recently been censored in China. For example, the Google-like search engine Baidu does not return results when searching for one of Asia’s leading crypto exchanges. In addition to other measures in the field of Bitcoin mining, the censorship indicates a tougher crackdown by China. Crypto censorship on…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: May was one of crypto’s worst performing months on record, with Bitcoin down 37% and most top crypto assets in the red. Volume Dynamics: For the first time ever, the volume of Ethereum traded throughout the month was greater than the volume of Bitcoin. Order Book Liquidity: Market depth and spreads have made a full…

Bitcoin is to officially become a currency on par with the US dollar in El Salvador. Through partnerships, the president of the Central American country wants to quickly build a modern financial infrastructure to use Bitcoin as a network and means of payment. At a conference in Miami, the president of El Salvador announced that he wants to make Bitcoin a legal tender. The bill he will send to Congress would promote Bitcoin to an official currency. This could make El Salvador the first country in the world to formally adopt a crypto-asset as a means of payment. Update 09.06.2021:…

One of the first cryptocurrency exchange traded products (ETPs) will become available to institutional investors in the UK to trade on Aquis Exchange. This arrangement was made in partnership an established British market-maker and liquidity provider specialising in ETFs. The 21Shares Bitcoin ETP (ABTC) will become available on Aquis Exchange, a pan-European MTF business based in London and Paris which offers trading in some of the biggest and most liquid stocks across 15 European markets. The ETP will be centrally cleared (CCP) and is engineered like an ETF. Bitcoin exposure for institutional investors ETPs trade on exchanges in a similar…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Renewed Failure at the 40,000 USD Mark The reporting week continued to be about overcoming the sell-off, which, on the 19th of May, reached its lowest point so far. As observed in the previous week, trading activity was once again concentrated in the 35, 000 – 40, 000 USD zone. On Monday, the bottoming of the two previous trading sessions was used to establish further above the 35,000 USD area. This was achieved with a close of 37,254 USD at the end of the day’s trading. Tuesday and Wednesday were subsequently…

Standard Chartered Bank (StanChart) wants to establish an institutional trading platform for cryptocurrencies in the UK and Europe. The new exchange is expected to launch in the fourth quarter of 2021, depending on approvals from the relevant regulators. London-based Standard Chartered is one of the most influential financial institutions globally. Its innovation arm now wants to create a trading platform in cooperation with the first licensed crypto exchange operator from Hong Kong (OSL). Standard Chartered’s new platform is aimed at the European market, and aims to connect institutional traders with counterparties looking to trade cryptocurrencies. Trading platform for institutions The…

As the price of crypto currencies increases, so too do the number of digital currency scams grow. The phenomenon of fraudulent crypto schemes can take on a variety of forms. It is thus important to protect yourself. What sounds too good often comes with a catch. According to Federal Trade Commission (FTC) data, Americans have lost more than 80 million USD to crypto scams since October 2020 – a 1,000% increase from fall 2019. People between the ages of 20 and 39 were hit particularly hard, accounting for about 44% of reported losses. The latest FTC data showed about 7,000…

The People’s Bank of China (PBoC), the Chinese central bank, plans to use their digital yuan during the 2022 Winter Olympics in Beijing. It could be the first test for China’s central bank digital currency (CBDC) with international users. With the increasing adoption of crypto-assets, central bank digital currencies (CBDCs) have once again become a prominent topic. While the Federal Reserve in the U.S. is still in the planning stages, China has already conducted its first pilot programs for the digital yuan. At the Winter Olympics in 2022, foreign athletes and visitors will also be able to use the digital…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Crypto markets rebounded slightly following last week’s market mayhem, with Bitcoin closing Sunday +1%. Volume Dynamics: The Asian exchange landscape has evolved significantly since 2017. We explore patterns in trade volume, trade sizes, and market dominance in one of the most important crypto regions. Order Book Liquidity: Liquidity for Tether markets on Binance and Huobi…