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Chart of the Day
Beware the Bears. The signs of exhaustion we’ve seen recently have temporarily knocked BTC below its 50-day simple moving average (SMA) for the first time since January, which to some might mean a slughorn for incoming bears.
Is this train headed north, or southbound? Pullbacks during a bull cycle are nothing new. If history teaches us anything, Bitcoin has sustained longer and more severe blows as previous price retracement fell below the 21-week SMA before climbing back.
Talk of the Town
Back to the Future(s). Exchange giant Cboe Global Markets may consider re-listing Bitcoin futures, as CEO Ed Tilly suggested during an interview. Cboe pushed the frontiers of institutional involvement in the crypto space back in December 2017, when it became the first regulated exchange in the world to list Bitcoin futures. It ceased the listing in July 2019.
