Coinbase continues its fight in court against several lawsuits. But during the bad news, they have started a collaboration with BlackRock that has been well received by the markets. Coinbase shares are up more than 40% on the news, a week after Cathie Wood sold her holdings (I'm not the only one missing the party).
Bitcoin price also benefited from the news. The arrival of BlackRock in the crypto market means that the world's largest investment fund manager is in, a lot of institutional money. It is a very important step for adoption and for the positive effects it can cause in the market.
Today's market close is very important for Bitcoin since it has been growing above the 200-day moving average for a few days, if Bitcoin closes above it could be good news. Historically it has happened 7 times and always preceded a price rise.
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This post was also published in read.cash by me, The Crazy Dude