Polygon price jumps 60% in four days amid ‘pretty big’ MATIC accumulation

Polygon (MATIC) took a break from its prevailing bearish course, posting one of sharpest rebound in the crypto market this week. Notably, MATIC’s price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin (BTC) and Ether (ETH) in the same timeframe.  MATIC/USD daily price chart. Source: TradingView Nevertheless, MATIC is still down significantly from its December 2021 high of $2.92, coinciding with the overall crypto bear market and…

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DoubleLine CEO sees Bitcoin buy moment at $23K, predicts US dollar will drop ‘pretty substantially’

Jeffrey Gundlach, the CEO of investment management firm DoubleLine, implied that Bitcoin could see more favorable activity in the long term than that of the U.S. dollar. In a Wednesday interview on CNBC’s Halftime Report, Gundlach said he believed people would be able to purchase Bitcoin (BTC) for under $23,000 soon given the likelihood of the crypto asset forming a head-and-shoulders trading pattern. He was seemingly referring to a “head” when the BTC price peaked at more than $64,000 on April 13 and the shoulders as the early January surge…

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The Fact That You Can Go 100x Leverage on Bitcoin Is Pretty Wild

Crypto-focused institutional trading desks are lately springing up. While Wall Street investment banks and hedge funds are still in the early stages of involvement, a class of crypto-native funds founded by institutional pros is by now well established. Cointelegraph interviewed the co-founder of one of these funds, CMS Holdings’ Dan Matuszewski, to learn more about his views on the crypto market. Before involving himself in crypto in 2012, Matuszewski worked for some years at Bay Hill, an institutional hedge fund. Most of his career was nevertheless tied to crypto, with…

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CoinMetrics Finds the ‘Coinbase Effect’ is Actually Pretty Lame

The fabled ‘Coinbase Effect’ has a much more limited impact on the price of newly listed coins than is popularly believed, according to CoinMetrics. The crypto data analysis firm has just published a report examining the impact that listing on the leading U.S.-based crypto exchange has on the price of a given crypto asset. The report concludes the effect is fairly muted — with new Coinbase markets typically posting average and median price performances between -1% and +14% against USD, Bitcoin (BTC), and Ether (ETH) from 10 days before until…

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