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Price analysis 7/9: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, SOL

Published 07/09/2021, 01:44 PM
Updated 07/10/2021, 04:20 PM
Price analysis 7/9: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, SOL

Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China has warned that stablecoins like Tether (USDT) pose “risks and challenges to the international monetary system, and payments and settlement system”. Fan did not even spare Bitcoin (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.”

Other than the FUD from China, several traders have been focusing on the unlocking of a large amount of Bitcoin at the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading firm QCP Capital said the event won’t have any “significant impact on the overall market outside of GBTC itself.”

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
UNI/USDT daily chart. Source: TradingView
BCH/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView

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