Crypto Long & Short: Don’t Write Off Euro Stablecoins Just Yet

Revolut has integrated with Trust Wallet to enable users in the European Economic Area (EEA) to purchase cryptocurrencies such as BTC, ETH, SOL, USDC, and USDT directly into self-custody wallets, with options for zero fees under the Markets in Crypto-Assets (MiCA) regulation. This integration aims to simplify the buying process for users seeking to manage their digital assets independently.

Bitcoin (BTC) has returned to the $90,000 mark, while Ethereum (ETH) is testing the $3,200 support level. This follows a recent interest rate cut by the Federal Reserve, which has led to fluctuating market sentiments within the cryptocurrency community.

The cryptocurrency market has faced a significant downturn, with Bitcoin (BTC) and Ethereum (ETH) giving back recent gains, resulting in the liquidation of $370 million in bullish bets. This decline follows a brief period of optimism, highlighting the volatility inherent in the crypto market.

A long-dormant Ethereum (ETH) wallet and significant Bitcoin (BTC) holders have begun moving their funds in anticipation of the upcoming Federal Reserve meeting, indicating increased activity in the cryptocurrency market. This shift suggests traders are preparing for potential volatility related to interest rate decisions.

In the latest Crypto Long & Short Newsletter, Carter Feldman highlights the increasing interest in privacy coins as investors seek countercyclical value amid a bear market, indicating a rising demand for financial autonomy. The discussion also includes a focus on Ethereum, with insights from Andy Baehr suggesting that ETH price movements may signal broader market trends.

Ethereum's price has recently rallied after a significant reaction from the $2,800 support zone, pushing the cryptocurrency into a major resistance cluster. This movement comes amid a backdrop of market volatility and uncertainty, raising questions about the sustainability of this rebound.

Ether-focused Digital Asset Treasury Companies (DATCOs) have shown strong performance since November 20, as risk appetite in the cryptocurrency market has improved, leading to increased market net asset values (mNAVs) and a rise in staking strategies. B. Riley noted this positive trend in their recent analysis.

Bitmex has announced the integration of a new fiat payment system, allowing users to deposit and withdraw funds in traditional currencies. This move aims to enhance accessibility for a broader range of users, particularly those who may be hesitant to engage with cryptocurrency exchanges that only support digital currencies.