First Mover Americas: Bitcoin in the Red for Fifth Straight Day

The latest price moves in crypto markets in context for Feb. 6, 2023.

AccessTimeIconFeb 6, 2023 at 12:56 p.m. UTC
Updated Feb 6, 2023 at 3:27 p.m. UTC

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Latest Prices

−28.8 2.6%
−504.7 2.2%
−31.8 1.9%
S&P 500 futures
−30.3 0.7%
FTSE 100
−65.6 0.8%
Treasury Yield 10 Years
BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)

Top Stories

Bitcoin, the world’s largest cryptocurrency by market cap, is trading down for a fifth straight day on Monday, the longest run since falling over six consecutive days in August last year. Bitcoin began to fall on Thursday after posting an upward trajectory in January, when it gained 40%, according to data from TradingView. Monday’s drop comes as Wall Street equity futures and European stocks dipped following Friday’s unexpectedly strong jobs report from the U.S. The rest of the crypto market was also trading in the red on Monday.

South Korea's Financial Services Commission on Monday published guidelines on which security tokens will qualify for regulation under the country's capital markets rules. The guidance comes ahead of highly anticipated regulations that will institutionalize security tokens. South Korea is working on comprehensive regulations for the crypto and blockchain sector, with lawmakers of the country's National Assembly considering 17 separate related proposals.

Sam Bankman-Fried showered politicians with tens of millions of dollars in campaign contributions before his FTX empire imploded in November. Now, the bankrupt crypto exchange wants that money back. On Sunday, FTX Group said it is sending “confidential letters” to politicians and other political beneficiaries of Bankman-Fried, his deputies and his companies, asking them to return the money by the end of the month. In a press release the firm said it reserved the right to try and force repayments – plus interest – through court action.

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Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.