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Cryptos bounce back after Friday’s China-fueled selloff as investors ‘buy the dip’

September 28, 2021
Source: srnola.com srnola.com
News Snapshot:
Cryptos bounce back after Friday’s China-fueled selloff as investors ‘buy the dip’ Cryptocurrencies staged a solid recovery Monday following Friday’s slump, when China declared all crypto-related transactions illegal in the country, intensifying its crackdown on digital assets. Bitcoin BTCUSD, +1.01% rose above $43,000 on Monday, from its Friday low of below $41,000, while ether [ETHUSD,] returned to above $3,000, after trading below $2,800 on Friday. The number of bitcoins held by long-term holders has reached a record high of 80.5%, Matt Blom, global head of sales and trading at Eqonex, wrote in a Monday note, citing data from Glassnode. Traders...
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Tags: ban | Beijing | bitcoin | blockchain | boycott | capital | China | Chinese | crackdown | crypto | currency | customer | data | digital | email | Ethereum | fintech | Founder | illegal | IT | revenue | social media | stock market | Tencent | WeChat

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