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Market Wrap: Bitcoin Traders Cautious After China Crypto Ban, DeFi Outperforms

September 28, 2021
Source: coindesk.com coindesk.com
News Snapshot:
Bitcoin was slightly lower on Monday as traders remained cautious about regulatory crackdowns from China and elsewhere. The cryptocurrency was trading at about $43,000 at press time and is roughly flat over the past 24 hours. Analysts are monitoring blockchain data for signs of buyer accumulation, although it may be too early to tell if sellers have fully capitulated. For now, it appears that some buyers have shifted their focus away from bitcoin and moved into decentralized finance (DeFi) tokens in the wake of China’s crackdown on cryptocurrency activities. For example, Messari data shows the PERP token initially spiked about...
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