Crypto Currency News

Bitcoin price fails to rally and falls below $ 42,000

However, some indicators show some optimism...

Bitcoin (BTC) continues to fail to recover. The leading cryptocurrency is now suffering from the passing success of US bonds, which hampers the jump in alternative assets and gives the US dollar some air in the midst of the economic recovery. As of press time, the price of BTC is $ 41,924.

The support of $ 44K is the great level for BTC to reach in the short term, but the difficulty is increasing as the days go by, and the bears begin to gain traction in the market. However, some indicators show some optimism.

The analysis firm Santiment published its latest report, in which it remarks that the number of BTC stored in exchanges is going through its lowest since May 2019. In other words, the pressure to sell is decreasing. , and the vast majority of investors are accumulating their assets, waiting for a new jump.

Regarding crypto adoption, the ecosystem received great news from the United States just a few hours ago: Verifone, one of the largest points of sale providers in the world, will accept cryptocurrencies as a means of payment. It is a partnership with BitPay, which will start operating towards the end of the year.

“We believe that having crypto available on our terminals will open up more options and opportunities for consumers, which is what Verifone intends to do. This opens a currency that has never been seen before in a terminal and we want to be at the forefront of this trend, “said Mike Pulli, CEO of Verifone, in dialogue with Cointelegraph.

The rest of the crypto market is also going through difficult hours in its recovery. Ether (ETH), the leading altcoin that had started the week off a sharp 5% jump, erased its gains and fell back below $ 3,000.
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Cardano (ADA), XRP and Litecoin (LTC) are down almost 3% and are trading at USD 2.12, USD 0.93 and USD 147 respectively, while Dogecoin (DOGE) and Bitcoin cash (BCH) are down 2% and are trading in USD respectively. 0.20 And USD 490.

Binance coin (BNB) is down just 1.5% and its price hovers around $ 341, while Solana (SOL) plunged 8% and is trading at $ 134.

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