First Mover Americas: Bitcoin Falls to $62K as Hong Kong ETFs Fail to Meet Expectations

Bitcoin fell below $62,000 during the European morning, having treaded water around $63,000 throughout most of the Asian session.

BTC was changing hands at about $61,670 at the time of writing, down 1.3% in the last 24 hours. The broader digital asset market, as measured by thelooks unlikely to inject any life into this sedentary market for now, with BTC products drawing just $8.5 million in volume and ETH drawing $2.5 million on the first day. Issuers expected the initial volume to be over $100 million, according to local media reports.

Broker Canaccord Genuity cut its MSTR price target from $1,810 to $1,590 while maintaining its buy rating after the software company reported a net operating loss of $53.1 million following a digital asset impairment charge of $191.6 million. Canaccord said the main drivers of the new price target are continued appreciation of BTC and"some revaluation up for the software business.

. Alliance Resource Partners said in an earnings call that it had 425 BTC on its balance sheet, which it had acquired as part of a pilot project to monetize underutilized electricity at its River View mine in Kentucky. The $30 million valuation represents a gain of around $7.3 million, the firm's CFO Cary Marshall said. Marshall added that the company isn't buying bitcoin but mining it with its existing equipment.

Google Trends provides access to a primarily unfiltered sample of search requests made to Google. It scales their searches from 0 to 100, with search values representing interest relative to the highest point on the chart for the selected region and period.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

Source: Digital Coin News (digitalcoinnews.net)

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