CoinDesk Podcast Network
COINDESK DAILY: Is Bitcoin Still Overbought? Do Kwon’s South Korea Extradition Halted
Mar 22, 2024
The podcast discusses Bitcoin's price drop and JPMorgan's forecast, legal challenges in Do Kwon’s South Korea extradition, and Frax Finance's strategy to boost crypto assets in Layer 2 blockchain.
01:58
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Quick takeaways
- JP Morgan's report indicates bitcoin is still overbought, predicting further sell-offs.
- Legal challenges pause Do Kwon's extradition to South Korea as Frax Finance aims for $100 billion TVL.
Deep dives
Crypto Market Correction and Future Outlook
The recent correction in the crypto markets saw Bitcoin's price dropping over 15% before a slight recovery. JP Morgan's report suggests that the sell-off may not be over, citing overbought positioning. Analysts observed a slowdown in net inflows into spot Bitcoin ETFs, leading to significant outflows. The report raised concerns about profit-taking continuing, especially with the approaching having event.
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