Major cryptos are holding within recent ranges and above the multi-week/month lows printed on Monday, but subdued trading conditions is seeing traders turn to the highly volatile on-chain micro-cap markets as they hunt for top crypto gainers today.
Bitcoin (BTC) was last just above $61,000 and Ethereum (ETH) was in the mid-$3,300s.
Traders are awaiting US Core PCE inflation data and quarterly option expiries on Friday.
In the meantime, sell pressure from the German government, Bitcoin miners and concerns about Mt Gox repayments will probably continue to weigh on the market.
Germany selling large amounts of Bitcoin for euros *that it can print* will go right up there with ditching nuclear power in exchange for relying on Putin for fuel as biggest self-inflicted wounds of the 21st century https://t.co/68ByQ2EP4A
— Alex Gladstein
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