While the explanations may vary from NFT excitement to regulatory FUD diminishing, crypto markets agree that good times are here again.
This episode is sponsored by NYDIG.
On this episode of “The Breakdown,” NLW covers bull market indicators, including:
- Investment firms reporting positive market signals
- Continued NFT boom
- Markets ignoring outdated FUD
Both NYDIG and Arca released reports detailing their perceptions of positive market signals towards a bull run. Signs included Grayscale GBTC unlocks, institutional interest and risk appetite.
The NFT bubble has not burst. Capital continues to flow into the space and digital art collections like Crypto Punks have shot up in value, exceeding even the previous March highs.
Crypto seems to be rolling over FUD: Tether’s additional backing clarity and BitMEX’s nine-figure settlement helped to ease uncertainties in markets over regulations. China’s crypto crackdown and the subsequent Great Hashrate Migration caused little impact. Even the Poly Network’s $600 million hack this week made no dent to prices.
Is Bitcoin’s “defiance rally” part of a bigger bull run?
The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Overearth/iStock/Getty Images Plus, modified by CoinDesk.