Good morning. Here’s what’s happening:
Prices: Bitcoin swung below $22K after crypto exchange Kraken agreed to sunset its crypto staking operations; altcoins fell, although liquid staking tokens were an exception.
Insights: Whales are sending bitcoin back to exchanges, while retail investors are removing the asset. What could the trend mean?
Prices
CoinDesk Market Index (CMI)
1,036
−39.8 ▼ 3.7%
Bitcoin (BTC)
$21,827
−1143.2 ▼ 5.0%
Ethereum (ETH)
$1,546
−108.9 ▼ 6.6%
S&P 500
4,081.50
−36.4 ▼ 0.9%
Gold
$1,860
−17.6 ▼ 0.9%
Nikkei 225
27,584.35
−22.1 ▼ 0.1%
BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
