Bitcoin price experienced an expected decline after reaching its all-time high and has since increased again. However, it is unclear whether the recent price correction will reverse profit-taking, and volatility remains high. Despite this, one of the largest cryptocurrency exchanges, Coinbase, is taking action.
Coinbase Breaking News
According to a recent announcement, the Coinbase exchange will issue $1 billion worth of convertible bonds due in 2030. Where have we heard this before? Of course, from MicroStrategy, which has been issuing bonds for a long time to buy billions of dollars in Bitcoin. It is likely that Coinbase is also issuing these bonds to support crypto investments or to purchase Bitcoin directly.
Despite the news, the BTC price is still below $71,000, and buyers are not maintaining their dominance for now. Volume increases on the GBTC side led to the assumption that net inflows weakened today, supporting sales in the spot markets. Additionally, today’s inflation data was not as bad as expected. After the daily close, we may see Bitcoin’s direction become clearer.
