First Mover: What China Crackdown Means for $18K Bitcoin as Dimon Passes on ‘Tea’
Market moves Bitcoin’s breathtaking rally for the past couple of months has been attributed to all sorts of grand macroeconomic reasons, from the need for a safe haven as the pandemic ravages the global economy once more to marvelous projections about the future role of the cryptocurrency in finance. What's hot JPMorgan Chase CEO Jamie Dimon said blockchain will have a pivotal role in the future of finance even if bitcoin, the No. 1 cryptocurrency by market capitalization that made blockchain famous, is not his “cup of tea.”.
(CoinDesk) OKB, the native token for leading crypto derivatives exchange OKEx, rallied more than 13% Wednesday on rumors the firm’s founder, Mingxing “Star” Xu, had been released from police custody in China. (CoinDesk) Analogs The latest on the economy and traditional finance Dollar up on COVID-19 case rise, gains curbed by Fed easing expectations (Reuters) The dollar strengthened on Thursday as broad optimism about COVID-19 vaccines ran into worries about rising infection numbers and risks to the fragile global economic recovery.
