Bitcoin's Cautious Rally Amid Weak Demand; Coinbase Expands UK Services
Bitcoin's Cautious Rally Amid Weak Demand; Coinbase Expands UK Services
The crypto market presents a mixed picture, with Bitcoin experiencing an early July rally constrained by thin liquidity and significant portions of its supply still at a loss, alongside weak ETF demand. Meanwhile, industry giant Coinbase has expanded its global reach by securing a UK investment services license, allowing it to offer derivatives and equities trading in addition to its existing crypto services.
Bitcoin's Rally Faces Headwinds
BTC traded around $63,500 after a six-day rally, but analysts flag thin summer liquidity, weak ETF demand, and note that half of Bitcoin's supply remains underwater or at a loss.
Coinbase Expands UK Offerings
Coinbase has successfully secured a UK investment services license, enabling the platform to broaden its services to include derivatives and equities trading, in addition to its existing cryptocurrency offerings.