Market Analysis

Spot Bitcoin ETF approval to propel BTC to $1M in ‘days to weeks,’ says Samson Mow

Bitcoin is likely to reach $1 million quickly due to a “torrent of money” coming from institutional investors in 2024, according to the Jan3 CEO.

Bitcoin (BTC) will likely reach $1 million in the “days to weeks” following the approval of a spot BTC exchange-traded fund (ETF), according to Jan3 CEO Samson Mow. 

“You’re hitting a very limited supply of Bitcoin on the exchanges and available for purchase with a torrent of money,” Mow said, referring to the inflow of institutional capital that is expected following a potential spot ETF approval. 

“This is why you can go really high all at one time,” he added.

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Researchers find cryptocurrency ‘signatures of maturity’ similar to equities market

Scientists at the University of Melbourne and Tsinghua University published pre-print research comparing the cryptocurrency market to traditional equities.

A pair of computer science researchers recently published pre-print research indicating that the nascent cryptocurrency market is beginning to show a level of maturity similar to the traditional equities market. 

Dubbed “Collective dynamics, diversification and optimal portfolio construction for cryptocurrencies,” the paper was written by Nick James, a fellow at the University of Melbourne’s Centre for Data Science, and Max Menzies, an assistant professor at the Beijing Institute of Mathematical Sciences and Applications, affiliated with Tsinghua University.

Related: What’s next for EU’s crypto industry as European Parliament passes MiCA?

The pair set out to determine what role cryptocurrency plays in portfolio diveristy and how the cryptocurrency market compares to the traditional equities market.

Their findings indicate that, while there remains some key differences between the two markets, cryptocurrency is beginning to show palpable and demonstrable signs of maturity:

“Overall, we have uncovered nuanced similarities and differences between the cryptocurrency and equity markets. These mathematical properties signal increased signatures of maturity in the collective dynamics and diversification benefit of different portfolio spreads.”

The team used a study approach called collective dynamics to discern the mathematical properties — with particular focus on measuring interactions between groups of data called “hierarchical clustering” — underlying both the cryptocurrency and equities markets. In order to compare the two, they measured diversification spreads across respective portfolios.

Both markets showed similar hierarchical clustering. The study authors also state that there’s evidence for “the existence of a ‘best value’ cryptocurrency portfolio.”

According to the researchers, by comparison, cryptocurrency may even offer a lower complexity threshold for diversification:

“Retail investors with limited ability to hold complex portfolios of many cryptocurrencies may be sufficiently diversified with a relatively small portfolio across just 16 cryptocurrencies.”

The study authors note that cryptocurrency has been called “an immature market, characterized by significant swings in volatility and occasionally described as lacking rhyme or reason,” but the research appears to indicate otherwise.

Ultimately, the study concludes that the cryptocurrency market is showing signs of maturity, but it’s not quite on par with the equities market just yet.

The researchers raise the issue of opaque underlying business functions related to cryptocurrencies, stating that related business cycles are “far less clear” than in the equities market. They also note a need for “the development of better understood and widely disseminated cryptocurrency investment principles.”

A recession is coming — Here’s how it’s fueling Bitcoin

Cointelegraph analyst and writer Marcel Pechman explains how a potential looming recession might be causing Bitcoin’s price to rise.

The show Macro Markets, hosted by crypto analyst Marcel Pechman, which airs every Friday on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity.

The International Monetary Fund (IMF) and the United States Federal Reserve foresee an impending economic recession, which is the topic of today’s episode by crypto analyst Pechman. The video explains how the U.S.’s record-low unemployment rate could be hiding a bigger issue caused by inflation.

Pechman explains that the S&P 500 being only 13% below its all-time high has been driven by investors moving away from fixed income and why inflation is no longer a primary concern. Finally, there’s the link between the banking crisis, a weaker U.S. dollar and Bitcoin’s recent rally above $30,000.

The next segment of Macro Markets focuses on the bank’s leverage ratio. There’s a growing concern that financial institutions are lacking the capital to cover their risks, but that’s not what the most recent data has shown. The culprit, in Pechman’s view, is unrealized losses. Basically, banks are holding debt instruments that are paying way below their cost of capital.

If you are looking for exclusive and valuable content provided by leading crypto analysts and experts, make sure to subscribe to the Cointelegraph Markets & Research YouTube channel. Join us at Macro Markets every Friday.

How on-chain data can make you a better trader

Join us as we discuss the potential for on-chain data and how it can make you a better trader.

In this week’s episode of Market Talks, Cointelegraph welcomes Miguel Morel, CEO of Arkham Intelligence — a blockchain intelligence company that has built a platform that provides information on real-world entities and individuals behind crypto market activity.

In today’s discussion with Morel, we will explore how and why on-chain data is useful and perhaps some ways that technical traders should be using it. We will also talk about what might be next for the Ethereum network now that withdrawals are activated after the successful implementation of the Shanghai upgrade, and how on-chain data can help traders navigate this phase.

We kick things off with the latest major event in the crypto space, the Ethereum Shapella hard fork, which went down without a hiccup. We ask Morel what the primary takeaway is that the crypto industry and investors should focus on and what the data says about Ether (ETH) liquid staking derivatives.

A lot of folks have said the Ethereum upgrade would be a buy-the-rumor, sell-the-news event, but we haven’t seen too much selling of ETH yet. We get Morel’s opinion on how traders could use on-chain data to develop a strategy on how to analyze and possibly invest in Ether. 

Most traders and analysts rely too heavily on the same skillset, tools and approach to the market that were the go-to strategies in 2017. Are these still as relevant today as they were back then, and how has on-chain data changed the game? We also ask Morel what some might consider a controversial question: Is technical analysis dead? He gives us his honest, data-backed opinion. 

We cover all this and more, so make sure to stay tuned until the end. Market Talks airs every Thursday. Each week, it features interviews with some of the most influential and inspiring people from the crypto and blockchain industry. So, head on over to Cointelegraph Markets and Research’s YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.

When levees break, liquidity flows — Analyzing Ethereum Shapella and liquidity staking derivatives

Volumes from the top five Ethereum staking platforms suggest holders are hedging against the unknown until after ETH withdrawals are enabled.

The Ethereum network’s planned Shanghai hard fork is nearly here. Planned for April 12, this is the first major upgrade since the Merge in September 2022. The “Shapella” upgrade (a combination of the two major proposals, Shanghai and Capella), includes EIP-4895, which enables validators to withdraw staked ETH from the Beacon Chain (Consensus layer) to the EVM (execution layer). The execution layer is the fun and friendly Ethereum thausers have come to know and love. 

Why is this a big deal? With just over 18 million ETH currently staked (valued at just over $33 billion at the time of writing), some of which has been locked up for years, the possibility of these tokens flooding an already teetering market is enough to get some holders ready to sell the news once withdrawals are enabled.

For holders who are both long and short ETH post-withdrawals, it’s likely to be a significant event, and on-chain activity suggests many feel the same: activity around liquid staking derivatives (LSDs) can be a useful gauge for what the market might do post-unlock.

Liquid Staking Derivatives could exert influence over Beacon Chain unlocks

What are liquid staking derivatives? They are a relatively new financial instrument born of DeFi that functions like bearer instruments for staked ETH. Similar to how borrowing and lending protocols give users a share token to represent locked collateral (think Aave’s a-tokens), staking ETH generates a wrapped asset used to claim the equivalent amount of Ethereum from the staking platform. When a staker deposits ETH with major platforms like Lido, Rocket Pool, Frax, Stakewise and now Coinbase, they receive a platform-specific flavor of LSD. Because staked tokens are illiquid, these wrapped assets allow stakers to continue earning rewards while securing the network without completely giving up the opportunity to participate in other activities within DeFi.

Liquid staking derivatives aim to solve these problems by allowing staked assets to be traded on secondary markets. This means that stakers could access the value of their staked ETH before the Shanghai upgrade enables withdrawals or, in the future, while maintaining their staked position. For example, a staker could use their wrapped ETH as collateral on another platform, or cover an unexpected expense by selling their LSD on a secondary market.

Rocket Pool, Lido, Coinbase and Frax

Though the markets have seen what seems to be an increasing string of green days, with Ethereum rapidly catching up to Bitcoin’s year-to-date performance, ETH’s gains are set against a backdrop of volatility among LSDs and staking tokens.

Lido’s LDO hasn’t recaptured its high from early March and has maintained a resistance at $2.75. The largest staking protocol by nearly an order of magnitude, Lido currently offers some of the highest staking rewards among major providers, with an average APY around 10%. The high rewards are no surprise: Lido took in nearly 50 million ETH in fees and 5 million in revenue in March, with April on track to meet or exceed those numbers.

LDO versus ETH price. Source: TradingView

Rocket Pool’s RPL fared much better, with a 25% increase over the last thirty days. The wrapped asset issued by the number three staking provider by TVL, rETH, has historically traded at a premium to ETH and other LSDs, likely a result of the provider’s reputation as the most decentralized staking solution available to holders today, making rETH a desirable LSD to hold.

Over the last thirty days, Rocket Pool has seen over $46 million in inflows, with many likely hoping to cash in on rETH’s premium when withdrawals are enabled. Rocket Pool’s average APY according to DeFiLlama is around 3.65%, which isn’t as high as other providers, but with over 1,800 active Rocket Pool nodes, the decentralized nature of the protocol is attractive. Addresses holding RPL have been steadily increasing as well.

Conversely, LSDs from the two top staking providers, Lido and Coinbase, both trade at a discount to spot ETH. Together representing nearly 90% of all staked ETH, it’s unsurprising that Lido and Coinbase have both come under scrutiny as centralizing entities given their concentration of staked ETH.

Ethereum LSD providers share of staked ETH. Source: DeFiLlama

Despite RPL’s impressive performance and StakeWise’s native token SWISE’s 15% gain, Frax seems to have come out as the winner.

Frax Ether has seen the most significant jump in total value locked over the last 30 days compared to the other top 10 staking providers at 14% growth for a $244 million valuation. Despite the increase in TVL, Frax totaled only $3.1 million in inflow over thirty days, putting the protocol just above StakeWise’s $2.6 million.

Total value locked in Frax. Source: DeFiLlama

Liquid staking derivatives like the wrapped Ether offered by staking providers is an important part of the Ethereum ecosystem much like plasma is an essential part of human blood. DeFi, NFT trading and GameFi are all interlinked, sometimes more subtly than others.

LSDs perform an important function of maintaining liquidity within the Ethereum ecosystem. Currently, over 15% of all Ether that exists is staked with a Beacon Chain validator (meaning this doesn’t include any ETH being used as collateral on borrowing/lending platforms).

Considering that a non-trivial amount of that ETH has been locked for years, through one of the toughest bear markets on top of that, indefinitely freezing this much capital (worth over $33 billion at the time of writing) would have a lasting and noticeable effect on the entire ecosystem.

Over the last 30 days though, trying to hedge against the chaos post-Shapella by holding unstaked ETH didn’t perform much better than holding an LSD: ETH is up 31% compared to stETH’s 30%, rETH’s 30%, while Coinbase’s cbETH is up 32% and Frax’s LSD is up 34%.

Overall, liquid staking derivatives are an important development in the staking ecosystem, as they help to address some of the challenges associated with staking, while also expanding the pool of potential participants in the ecosystem.

Related: Ethereum traders show uncertainty ahead of April 12’s Shapella hard fork: Report

Withdrawals being enabled for staked Ethereum on the Beacon Chain means that proof-of-stake Ethereum has reached a point of sufficient stability and security, and the stakers who participated in securing the network will be able to retrieve their staked funds.

Regardless of the immediate impact of enabled withdrawals, proof-of-stake Ethereum’s continued success relies on incentivizing ETH holders to validate the network, and liquid staking derivatives have proven to be an effective mechanism to do so.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin touches $29K! Why BTC is unaffected by regulatory pressure

Join us as we discuss the significance of Bitcoin reaching $29,000 and why it seems to be unaffected by all the regulatory pressure and collapsing banks.

In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem.

We start things off with our main topic for today: Bitcoin (BTC) touched $29,000, a new high for 2023, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. This could also suggest the crypto market does not seem too bothered about the Commodity Futures Trading Commission’s lawsuit against Binance and its CEO Changpeng “CZ” Zhao. Even the Crypto Fear & Greed Index — which aims to numerically present the current “emotions and sentiments” toward Bitcoin and other large cryptocurrencies — has been steadily increasing over the last month despite wobbles in the global banking sector. What does all this really mean for the crypto space, though? Should investors not be so worried about regulations?

This week Saudi Arabia, Kenya, Pakistan, Russia, India and Brazil decided to settle trade in their own currencies rather than the United States dollar. Why have they decided to do this, and will it have a significant impact on the U.S. and the dollar? Will there be any ramifications for the crypto space, if any?

We ask Xu what his vision is for how DeFi protocols and crypto exchanges intend to build out their own banking services in the future. Centralized crypto exchanges are under all sorts of pressure from regulators at the moment, yet we still see Fidelity Investments expanding its offerings, and Nasdaq is getting close to launching its crypto custody platform. We also get Xu’s thoughts on Fidelity Investment’s recent expansion.

There is a lot going on at the moment as far as regulations in the crypto space are concerned, mostly cracking down on the crypto sector. We ask Xu what his long-term vision is for the future of the regulated crypto space in the United States.

The United States Federal Reserve seems to be in an unending fight against inflation. The interest rate hikes don’t seem to have an end in sight either. Is the Fed losing its fight? At what point will we see a pause in interest rate hikes, and how realistic is it for the Fed to achieve its objectives for this year?

We cover all this and more, so make sure to stay tuned until the end. Market Talks airs every Thursday at 12:00 pm ET (5:00 pm UTC). Each week, it features interviews with some of the most influential and inspiring people from the crypto and blockchain industry. So, head on over to Cointelegraph Markets & Research’s YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.

NFTs, gaming and storage: The key to Filecoin and Arweave accruing value?

Future growth in blockchain gaming, NFTs and the need for more decentralized storage could eventually benefit FIL and AR price.

With the rise of Ordinals on Bitcoin (BTC) sparking debate over how users should store their NFTs and blockchain gaming projects searching for cheaper, secure ways to store data, it’s time to revisit the discussion surrounding decentralized storage coins.

Decentralized storage protocols Filecoin (FIL) and Arweave (AR) show similar price action, leaving investors with a decision between the underdog showing signs of increased adoption by NFT users and blockchain gaming projects and the clear leader in market cap and adoption.

The total market capitalization of the entire digital storage cryptocurrency landscape today is $4.87 billion, according to data from CoinMarketCap, and each protocol provides something different. The two largest projects in the space by market cap that specifically addresses storage needs for NFTs and blockchain gaming are Filecoin and Arweave. Filecoin is currently the top-ranked project in the sector. It ranks 27th on CoinMarketCap by total market cap, but Arweave has significant on-chain activity and fundamental news that deserves attention.

The primary difference between the projects is their focus. Arweave is focused on long-term data storage with a one-time payment model, while Filecoin is more focused on incentivizing large-scale storage, especially for private data, and uses a tiered payment model based on storage time and space requests.

Filecoin has recently announced it would launch smart contracts, solidifying its new position as a layer-1 platform. This development has led to speculation on Filecoin’s future success in deploying Web3 offerings with real-world services like computing and storage, supported by Filecoin’s open marketplace for decentralized storage.

Given the current volatile crypto and macro climate, Filecoin revenue is notable at $2.53 million per month (up 238 over 30 days). Over the same period, fees are up 33% ($2.99 million), indicating strong demand for the platform. The market cap of FIL is at $2.76B, up 14% in the same period.

Filecoin has a maximum supply of 2 billion tokens and a circulating supply of around 403 million. Of the total supply, 70% is dedicated to mining rewards, which increase with network adoption. The rate at which new tokens are created decreases over time as the network matures.

By comparison, Arweave has a much smaller market cap of about $441 million, reflecting a 30% drop over the last 30 days. However, its maximum supply (66 million) compared to total circulating tokens (~50 million) could be more attractive to investors worried about inflation. In addition, AR’s price has been significantly depressed since its all-time high in late 2022.

Arweave (AR) compared to Filecoin (FIL) by Total Market Cap. Source: CoinMarketCap.

Arweave is an underdog in price and adoption, but it would be prudent to note the protocol’s rise in popularity due to its unique differentiator as a permanent storage solution for public data. That could be a clear advantage over competitors when providing infrastructure for the Metaverse. Meta already utilizes Arweave to permanently store digital collectibles from Instagram. Despite a significant drawdown in Metaverse and blockchain gaming projects, transactions on Arweave reached a monthly ATH in February (+20% MoM).

The increase in transactions may be associated with the upcoming release of Arweave 2.6, which aims to lower storage costs and increase energy efficiency for miners while improving the protocol’s ESG standing.

However, Arweave founder Sam Williams postulates that the bulk of transactions is thanks to Bundlr, which claims to increase transactions on Arweave by 4,000% without sacrificing security and at “~3000x faster” upload speed. Bundlr accounts for over 90% of data uploaded to Arweave.

Arweave’s price is down ~90% from its ATH, despite record-high transactions and its partnerships with Meta and the Solana (SOL) blockchain. That is less of a difference than Filecoin, a name down nearly 100% from its ATH.

Meanwhile, Arweave’s “Weave” (a blockchain-like structure) size has grown 135% YoY (134 TB). A recent report by Messari estimates 25% of the Weave is related to NFTs, while 72% is Web3 related. The report also mentions that Decentralized Social (DeSoc) projects like Lens Protocol use Arweave as the preferred decentralized storage platform.

On the flip side, Meta also recently announced it would be “winding down digital collectibles (NFTs),” which may cast a shadow on Arweave’s growth potential. In addition, Arweave’s storage growth is shadowed by Filecoin’s 1,390% (687,900 TB) increase over the same period.

It is also worth considering how recent news of Amazon’s upcoming NFT marketplace could impact the storage coin market. Arweave may get the most immediate impact thanks to its partnership with Avalanche (AVAX), considering the L-1 blockchain partnered with Amazon last year. While there’s no clear news from the company on whether they will use Amazon Web Services (AWS) or the InterPlanetary File System (IPFS) used by Filecoin, Arweave, and several other decentralized storage solutions, the increased awareness of NFTs via Amazon may ultimately channel users and capital into the system. Amazon’s NFT campaign will likely lead to more traffic on the leading NFT marketplace, OpenSea, which utilizes IPFS and Arweave for metadata storage.

The NFT market also shows signs of resilience, with $2 billion in trading volume in February, up 117% from the previous month, and the industry’s total value locked (TVL) climbing by over 7% ($81 billion). Blockchain gaming remained the dominant sector and a space hungry for decentralized storage (45% of DApp industry activity), despite a 12.33% decrease in on-chain gaming activity.

With the number of funding deals jumping 90% in February, it’s clear that there remains a strong interest in blockchain gaming in the long term, and that will bode well for storage coins that position themselves to aid that sector.

While the rise of blockchain gaming may boost storage coins like Filecoin and Arweave, it’s important to carefully analyze each project’s fundamental news, security, and adoption trends before making investment decisions. Filecoin appears to be the stronger choice with its greater adoption, but Arweave’s steady rise in usage in growing Web3 narratives remains an interesting trend to keep an eye on.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

How does the monetary supply affect cryptocurrencies?

Cointelegraph analyst and writer Marcel Pechman explains how the monetary supply affects cryptocurrencies.

The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity.

In today’s episode, crypto analyst Pechman discusses the fundamentals of money, including how to calculate supply, the effects of savings deposits and money market funds, and how central banks can inflate without effectively “printing money.”

Pechman explains why near-zero interest rates and reduced financial institution reserve requirements benefit risk assets, such as cryptocurrencies, so much. The video then compares the broad monetary supply change in the United States to Bitcoin’s (BTC) price — some impressive charts you should not miss.

Following a brief recap, Pechman explains why governments are doomed to continue inflating the monetary supply and why it is impossible to predict how long it will take to affect stock markets and crypto.

The Macro Markets’ next segment focuses on the housing market, a staggering $260-trillion asset class that has historically been able to keep up with monetary debasement. Pechma reveals the ambiguity surrounding the potential for delinquency, the rise in mortgage rates, and the connection to the housing crisis of 2008.

Two hypotheses are presented to illustrate how realistic it is for a portion of the trillion-dollar housing market to flow to cryptocurrencies and why stocks and gold are unlikely to be able to absorb all of the value coming their way. This concludes the segment.

If you are looking for exclusive and valuable content provided by leading crypto analysts and experts, make sure to subscribe to the Cointelegraph Markets & Research YouTube channel. Join us at Macro Markets every Friday at 12:00 pm ET.

The impact of the Credit Suisse bank crisis on the crypto market

Cointelegraph analyst and writer Marcel Pechman explains how the Credit Suisse bank crisis will impact the crypto market.

The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity.

In today’s episode, crypto analyst Pechman discusses how to analyze banks — importantly, how to avoid the erroneous market capitalization indicator, which had a $15.8-billion value for the defunct Silicon Valley Bank (SVB).

The enterprise value (EV) metric provides a much better picture of a bank’s balance sheet terms by subtracting net debt from market cap. Of course, Pechman first explains the relationship between banking valuation and cryptocurrencies, specifically Bitcoin’s (BTC) ethos.

The video explores the 2018 denial of The Narrow Bank’s application, a bank that would not leverage client deposits and would only invest in United States Treasurys. This is a fascinating tale — you should watch the whole episode on YouTube for more information.

Pechman explains why an eventual crypto pump caused by a banking industry collapse would not be sustainable, as recession risks outweigh initial enthusiasm. The video goes on to compare bond (debt) markets to gold, equities and real estate.

The episode concludes with a quick look at unrealized losses and how the debt markets could spark a massive bull run for Bitcoin and cryptocurrencies.

If you are looking for exclusive and valuable content provided by leading crypto analysts and experts, make sure to subscribe to the Cointelegraph Markets & Research YouTube channel. Join us at Macro Markets every Friday at 12:00 pm ET.

Why is Bitcoin rising amid collapsing banks? Watch The Market Report

On this week’s episode of The Market Report, Cointelegraph’s resident expert explains why Bitcoin is rising and why banks are collapsing.

This week on The Market Report, our beloved host, Joe Hall, and insightful expert, Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to discuss why he thinks Bitcoin’s (BTC) price is rising amid collapsing banks.

We kick things off with this week’s first article:

UBS Group agrees to $3.25B “emergency rescue” of Credit Suisse

UBS Group agreed to buy its ailing competitor Credit Suisse for $3.25 billion on March 19 as part of an “emergency ordinance” to prevent financial market instability. To close the deal, Swiss authorities agreed to change the country’s regulations to bypass a shareholder vote and announce the deal over the weekend ahead of the market opening. Was this move actually legal? After this move, will Switzerland still have a reputation for being the securest financial market? Pechman has much to say on this matter and addresses the issue with Credit Suisse debt holders, so watch the whole video because you won’t want to miss his insights.

Investors shelter in short-term Treasurys, reducing Bitcoin’s chance of rallying to $30K

The price of Bitcoin surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren’t very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons investors are not fully confident in further price upside. The recent rescue of Credit Suisse, a 167-year-old leading Swiss financial institution, proves that the current global banking crisis might not be over. Pechman explains why the price of Bitcoin might not touch $30,000 just yet.

The Market Report airs every Tuesday at 12:00 pm ET (5:00 pm UTC), so be sure to head on over to the Cointelegraph Markets & Research YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.