After a harrowing stretch of red-the kind that makes one question their life choices-crypto exchange-traded fund (ETF) flows have finally found some semblance of stability. On this fine Monday, the 26th of January, a cautious yet delightful reversal graced us with its presence, as inflows returned across all major digital asset ETFs, easing the burden of last week’s heavy selling woes.
The token is issued by Anchorage Digital Bank, a nationally chartered institution under the stern gaze of federal oversight, marking a graceful divorce from Tether’s globe-trotting stablecoin grand tour.
Behold, the lower Bollinger Bands, as per the sacred scrolls of CoinMarketCap, decree XLM’s price at $0.1987, while the upper bands, ever so tantalizing, hover at $0.2403. A 20% chasm, you say? A mere leap of faith could propel XLM into the $0.24 zone. But alas, the coin is shackled by bearish momentum, a prisoner of capital’s fickle flight from altcoins in this era of market malaise.
As Tuesday waltzed in, the crypto market continued its narrow tango, constrained by low volume and liquidity, like a dancer whose partner has mysteriously vanished.
The numbers piled up as if the town had been counting its own house notes: a swing that erased roughly $900 billion in ninety minutes, a part of a broader $2 trillion swing in about 14 hours, a spectacle that would make even the old bank vaults feel queasy. The Kobeissi Letter, that brisk, opinionated voice from the wires, claimed the market cap danced from reach to reach with a speed that would have the clocks in the town square blushing with envy.
Animoca Brands Japan, in a stroke of genius that rivals the invention of the Babel Fish, has teamed up with Rootstock Labs to develop Bitcoin-native treasury tools. These tools are designed for Japanese corporations that want to manage digital assets more actively, presumably because passively holding Bitcoin was starting to feel like watching paint dry-in space.
So, Bitcoin thought it could waltz right past the $94,000 to $98,000 range, but surprise! It got rejected faster than my last Tinder date. This level was supposed to be its “neckline” in a dramatic tech setup, but instead, it turned into a bear party, and guess what? No one brought snacks!
Now, this charming strategy has worked wonders in the robust ETH markets, like a cat that’s just discovered a sunbeam. But alas, with Ethereum’s momentum resembling a deflating balloon and downside risks sprouting like weeds in a neglected garden, BitMine’s exposure is showing signs of stress on the chart. Yes, you heard it right! It seems that treasury risks are now more influential than the actual mining operations, which is like saying the tail is wagging the dog.
These magnanimous words were delivered just as gold, that ancient, mute idol of monetary worship, finally staggered upright after fifty years of financial hibernation and lumbered into the record books like a dazed bear in a luxury jewellery store.
It seems the desire to expand the Bitcoin strategy continues, only now tailored for those investors who require a… regular payment. How quaint.
