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Bearish trading in bitcoin (BTC) markets continued late Monday as the asset briefly fell under $92,000 on profit-taking despite another mammoth MicroStrategy purchase, recovering to just over $92,800 as of Asian morning hours Tuesday.Some traders expect the current price action to likely continue until February, weeks after president-elect Donald Trump takes office in the U.S. and sets into motion a barrage of policies that may help the market."We are skeptical of any New Year fireworks especially with funding healthy," traders at Singapore-based QCP Capital said in a Telegram broadcast. "January's average returns (+3.3%) are relatively similar to December's (+4.8%), and we could expect spot to remain in this range in the near-term before things start to pick from Feb onwards.""Options...

Crypto prices are experiencing a rocky Monday due to poor U.S. macroeconomic data and rampant profit-taking.Bitcoin (BTC) has dropped 1.8% in the past 24 hours to $91,800, a price not seen since Dec. 5, the day it broke through $100,000 for the first time. The largest cryptocurrency has fallen more than 14% from its Dec. 17 record of $108,278.Ether (ETH) has lost less, falling 0.7% to $3,320, though it’s now 17% below its December highs, and still has not surpassed the record $4,820 it hit in 2021. Solana (SOL) is also proving a little stronger than bitcoin, with the SOL/BTC ratio up 0.35% today.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins,...

In retrospect, it was inevitable.Down more than 8% and holding just above $300 on Monday, MicroStrategy (MSTR) shares are now lower by about 30% since just after the announcement of their inclusion into the Nasdaq-100 index and nearly 50% from their late November record high.The signs of at least a major short-term top in one-time barely known enterprise software company turned juggernaut Bitcoin Development Company MicroStrategy were everywhere.First among those signals was the rocketing stock price — at its high of $543 in late November, MSTR was up nearly eight-fold in 2024 and more than a 50-bagger since the company began buying bitcoin (BTC) in August 2020.There was also founder and Executive Chairman Michael Saylor — never shy about promoting...

The dead internet theory may not be in full swing just yet, but AI agents have already taken over much of Crypto Twitter.Reply bots on X are populating posts on nearly everything, using artificial intelligence models to increase reach and blockchains to settle micro transactions or record data.These bots are increasingly interacting with other bots, with pairs of such bots launching their own tokens. (While token issuance still requires humans, often the concept stems from whatever the AI bots decide).Initial replies to nearly all of CoinDesk’s posts in the past few weeks are often these AI bots, each either providing a reaction, a summary or analysis of linked reports, or sometimes even subtle snarks.The relatively new “AI Agents” sector has...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 3254.32, down 1.8% (-60.38) since 4 p.m. on Friday.Three of 20 assets are trading higher.Leaders: SOL (+2.5%) and APT (+0.8%).Laggards: XLM (-6.6%) and LINK (-6.2%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link