First Mover Asia: Bitcoin Retreats, Quickly Regains $30K Perch as Investors Mull ETF Timing, Inflation

"Look at Coinbase, up today and up 21% over the past 5 days," Connors wrote."If there were structural reasons for this move lower, COIN would have been hit as well."Investors will be eyeing bitcoin’s price as the market approaches Friday’s expiry of bitcoin options contracts could fuel a price increase, or send it spiraling in the immediate aftermath.

Ether was changing hands at $1,830, off 2.4% from Tuesday, same time. Other major cryptos were largely in the red with ADA and MATIC, the tokens of smart contracts platforms Cardano and Polygon each recently tumbling more than 6%. TheThe tech-heavy Nasdaq Composite continued its recent rally, inching up 0.

"The SEC lawsuits against Binance and Coinbase have not been forgotten, but they've certainly drifted into the background and been overtaken by far more promising news flow," Erlam wrote."It would appear the cryptocurrency has good momentum once more and the community may well be wondering if this could be the kind of development that sees enthusiasm for cryptos surge again.

He added:"It's obviously been a fantastic year for bitcoin so far" but a spring sell-off"was another reminder that it doesn't come without major setbacks."

Source: News Formal (newsformal.com)

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