First Mover Americas: Bitcoin Shows Signs of Life

(CoinDesk)

This article originally appeared in , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. .

(CoinDesk)

Bitcoin showed some signs of stirring from its September stupor late on Thursday, rising around 3% to $26,400, before dropping back below $26,000 during the European morning. The CoinDesk Market Index (CMI) also hit its highest point this month, rising over 2% before retreating. Bitcoin has mostly languished below $26,000 this month as traders awaited clarity around the big regulatory hotspots, such as the SEC’s decision on the listing of a spot bitcoin ETF in the U.S. September is a difficult month for bitcoin, which has posted negative returns every year since 2016. So far, 2023 looks so far to be no exception.

Coinbase set out plans for an international expansion that focuses on acquiring licenses in major financial jurisdictions “enacting clear rules” for the crypto industry. CEO Brian Armstrong has expressed concerns in the last few months about the lack of regulatory certainty in Coinbase’s native U.S., so it is targeting the EU, U.K., Canada, Brazil, Singapore and Australia as immediate priorities. The exchange added that it is “in the final stages of selecting the location” for its EU hub, saying it wishes to “leverage our being the most trusted brand in the crypto space ahead of the European elections in June 2024.”

(Amberdata)