First mover Americas: Bitcoin hovers around $59,000 through the weekend

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Bitcoin tested a return to $60,000 on Friday morning in Asia before exiting until trading around $59,000. Bitcoin continues its recovery from a mid-week selloff that saw it drop below $57,000 in the past 24 hours, following a 16% drop in April, its worst month since June 2022. It rose by about 2%. JP Morgan said in a report yesterday. Investors played a larger role in selling than institutional investors. The bank has opted for a cautious stance towards the crypto market in the short term due to the lack of positive catalysts. According to the CoinDesk 20 Index (CD20), the overall cryptocurrency market rose by 1.7% in 24 hours.

Coinbase has First quarter hit hard thanks to improved crypto market conditions and business diversification Broker JMP said in a report today that Layer 2 Blockchain Base, etc.. Coinbase reported profit of $1.2 billion and diluted EPS of $4.40. JMP reiterated COIN’s Outperform rating and $320 price target. Canaccord Genuity raised its target from $240 to $280, and KBW raised its target from $240 to $280. “While we believe investors must remain calm about the ebb and flow of enthusiasm for the industry, which often coincides with price fluctuations, we believe that Coinbase is relevant in virtually every sector. “We see a number of fundamental trends that support our positive hypothesis that the company will become a successful player,” JMP analysts led by Devin Ryan wrote.

friend technative token of Rise to $169, then plummet to $2.50 Immediately after debut. decentralized social platform friend tech We airdropped FRIEND on Friday, announcing version 2 of the platform. Hitesh Malviya, founder of cryptocurrency analysis platform DYOR, told CoinDesk that “the sharp price drop appears to be caused by liquidity issues.” It appears that some users also had issues when requesting airdrops. Malviya said that this distribution was a “concentrated airdrop” in which leading creators got the most supply.Assets locked in after launch last August friend tech It peaked at $52 million in October, but is now down more than 40% to $29.8 million.

Google News today’s chart

• This chart shows the most traded Bitcoin options on cryptocurrency exchange Deribit in the last 24 hours.

• The large volume of $90,000 and $100,000 Bitcoin calls expiring in September suggests that market participants maintain a bullish outlook on the cryptocurrency.

• A call option gives the buyer the right, but not the obligation, to buy the underlying asset at a specified price at a later date. Call buyers are implicitly bullish on the market.

• Source: Velo data

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