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Bitcoin Tops $40K, but Lack of Blockchain Activity May keep Lid on Gains

By Yasin Ebrahim AiVIF.com – Bitcoin topped $40,000 Monday for the first time in more than month amid signs Amazon (NASDAQ:AMZN) is shaping up for a move into the crypto...
Bitcoin Tops $40K, but Lack of Blockchain Activity May keep Lid on Gains © Reuters.

By Yasin Ebrahim

AiVIF.com – Bitcoin topped $40,000 Monday for the first time in more than month amid signs Amazon (NASDAQ:AMZN) is shaping up for a move into the crypto industry, but the dearth of activity on the network that powers the popular cryptocurrency could be signalling caution ahead.

BTC/USD rose 17% to $40,552, rising above the $40,000 level for the first time since June 15.

The impetus for the move higher was widely been attributed to a job posting from Amazon that suggests the e-commerce giant could be warming up to the idea of using blockchain technology and crypto on its platform.

“The payments acceptance & experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” according to the ad.

The idea of Amazon making a splash in the crypto world was given further credence after City A.M. reported, citing an unnamed source, that the e-commerce behemoth was looking to integrate blockchain technology deep within the plumbing of its platform.

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future—this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” City A.M. reported, citing the anonymous source.

Others, meanwhile, attributed the rise to a string of positive remarks on bitcoin from Tesla (NASDAQ:TSLA) CEO Elon Musk, Twitter CEO Jack Dorsey, and Ark CIO Cathie Wood during a recent virtual conference on bitcoin.  

Acknowledging that bitcoin is making strides toward lessening its impact on the environment, Musk hinted that Tesla could resume accepting Bitcoin for purchases.

“It looks like Bitcoin is shifting more toward renewables,” Musk said. “I would want to do a little bit more diligence to confirm the percentage of renewable energy usage is at or above 50%.”

As the bulls celebrate the revival of the bitcoin, there are some who suggest that activity on the blockchain, which remains in doldrums, would need to return to support a sustainable rally in the popular crypto.

“Overall, on-chain activity remains somewhat bearish and continues to be quiet,” Glassnode said in its weekly on-chain  report. “If on-chain volumes do not rise in support of these elevated prices, it may suggest the rally lacks fundamental drivers and would be a sign for caution.”

“On a 14-day median basis, the entity-adjusted transaction volume for Bitcoin remains depressed at around $5 billion per day. This remains a significant decline from the $16B/day prior to the May Sell-off.”

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28-09-2021 08:35:16 (UTC+7)

EUR/USD

1.1686

-0.0008 (-0.07%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (2)

EUR/USD

1.1686

-0.0008 (-0.07%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (2)

GBP/USD

1.3690

-0.0006 (-0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

USD/JPY

111.12

+0.12 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

AUD/USD

0.7270

-0.0016 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

USD/CAD

1.2632

+0.0006 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (1)

Sell (4)

EUR/JPY

129.85

+0.07 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/CHF

1.0826

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (2)

Sell (5)

Gold Futures

1,749.40

-2.60 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (1)

Silver Futures

22.538

-0.156 (-0.69%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (2)

Copper Futures

4.2778

-0.0019 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

75.42

-0.03 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (2)

Brent Oil Futures

78.64

+0.03 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Natural Gas Futures

5.953

+0.093 (+1.59%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

US Coffee C Futures

194.98

+0.63 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,443.11

-12.37 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,573.88

+42.13 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,246.00

+37.22 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1686Buy
 GBP/USD1.3690Buy
 USD/JPY111.12↑ Buy
 AUD/USD0.7270↑ Buy
 USD/CAD1.2632Neutral
 EUR/JPY129.85↑ Buy
 EUR/CHF1.0826Neutral
 Gold1,749.40↑ Buy
 Silver22.538Neutral
 Copper4.2778↑ Buy
 Crude Oil WTI75.42↑ Buy
 Brent Oil78.64↑ Buy
 Natural Gas5.953↑ Sell
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,246.00↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,670/ 5,720
(5/ 5) # 899
SJC HCM5,645/ 5,710
(10/ 10) # 890
SJC Hanoi5,645/ 5,712
(10/ 10) # 892
SJC Danang5,645/ 5,712
(10/ 10) # 892
SJC Nhatrang5,645/ 5,712
(10/ 10) # 892
SJC Cantho5,645/ 5,712
(10/ 10) # 892
Cập nhật 28-09-2021 08:35:19
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Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
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Dầu hỏa1564015950
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.640,0022.870,00
EUR25.936,3927.286,23
GBP30.388,5931.658,23
JPY200,05211,63
KRW16,6620,29
Cập nhật lúc 08:31:49 28/09/2021
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