Bitcoin Price: Blockchain data suggests that the leading cryptocurrency may be in a sustained bear market as over 4.7 million Bitcoins are now held at an unrealized loss. Several bearish signals indicate that the bellwether cryptocurrency could continue to decline.
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Solana price set for $100 as crypto markets look to the upside
Solana (SOL) price saw its bullish reversal stop short on Sunday and is now nearing the monthly S2 support level again at $89.28. Although ASIA PAC equity and European indices are firmly in the green, the sentiment has not spilled over to US futures and cryptocurrencies yet. Expect a bounce off the monthly S2 support level and look for a first test at $100 to the upside before continuation this week towards $130.70.
Crypto Can’t Beat Gold as an Inflation Hedge, Neal Bhai
The world’s second-biggest gold miner is confident prices will hold firm this year, if not rise, as investors use the metal rather than cryptocurrencies to hedge against inflation and jewelry demand picks up.
A hedge against crypto volatility?
Gold Silver Reports (GSR) – Banks and other Reserve Bank of India-regulated entities stopped servicing cryptocurrency exchanges last month, as per an RBI directive. But within a day or two, at least two cryptocurrency exchanges in India took the peer-to-peer trading route to enable crypto-rupee trading. Read here. P2P transactions, however, do not hedge you against price fluctuations, which can be significant in crypto markets, even in a short span.