Market Wrap: Bitcoin Slips to $30.8K While Investors Plow BTC Back Into DeFi

From  www.coindesk.com

Its price fell Tuesday but the amount of BTC in DeFi is at its highest in over a month.

Bitcoin has been in a $30,000-$35,000 range for almost a week at a time when some market participants are seeking out ether and other crypto to trade during the perceived doldrums.

  • Bitcoin (BTC) trading around $32,003 as of 21:00 UTC (4 p.m. ET). Slipping 4% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $30,875- $32,967 (CoinDesk 20)
  • BTC above the 10-hour but below the 50-hour moving averages on the hourly chart, a sideways signal for market technicians.

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Spain’s Second-Largest Bank Will Soon Launch Crypto Services

BBVA, the second-largest bank in Spain, with about $840 billion in assets, is poised to enter the cryptocurrency trading and custody space, according to two people familiar with the plans.

The Spanish bank will begin its crypto offering out of Switzerland, said a source. Switzerland has relatively comprehensive rules around digital assets, set out by the country’s Financial Market Supervisory Authority (FINMA).

One source with knowledge of the plans told CoinDesk that BBVA is “launching its Europe-wide crypto initiative from Switzerland.”

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