An institutional-only crypto exchange, EDX Markets, also recently went live with backing from billionaire Ken Griffin's Citadel Securities, as well as Fidelity and Charles Schwab Corp. It offers trading in just four cryptocurrencies: bitcoin, ether, litecoin, and bitcoin. cash.
While Bitcoin hit records after each of its last three halvings, the current outlook for cryptocurrencies is clouded by the prospect of more central bank interest rate hikes to squeeze liquidity and curb inflation.
Charging
Investments, such as stocks, have already begun to falter after a strong first half, with sentiment affected by a jump in government bond yields.
Traditional markets "seem to be entering a risk-off mood; we can't yet assume that Bitcoin will simply shrug it off," wrote Noelle Acheson, author of the Crypto is macro now Newsletter.
“The especially interesting story will be how Bitcoin behaves when the stock market correction finally hits in earnest,” he said.
Bitcoin and litecoin remain well below the record highs reached in 2021. Litecoin was trading around $98 ($147) on Monday in New York, compared with $413 during a pandemic-era bull market. Bitcoin traded at approximately $30,000, about $39,000 below its all-time high.
Bloomberg
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