As Virus Cases Rise, Another Contagion Spreads Among the Vaccinated: Anger - NYT | Jan. 6 Insurrection Committee Holds Its 1st Hearing, Questioning Police
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Here's the latest for Tuesday July 27th: Hearings before House committee on Jan. 6th riot; Northern California fire tears through small town; South Dakota Gov. goes to US-Mexico border; Coast Guard rescue off New Jersey coast.
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- Bitcoin fell below $38,000 on Tuesday after Amazon rejected talk it may be venturing into crypto.
- The token surged above $40,000 on Monday after a report Amazon has specific plans to accept bitcoin as payment.
- The online retailer said the report was "not true", but didn't deny it is exploring developments in crypto.
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Bitcoin's price tumbled below $38,000 on Tuesday, retreating from the previous day's gains after online retail giant Amazon quelled rumours that it plans to accept crypto payments for purchases on its platform.
The coin was trading around $37,180 as of 3:20 a.m. ET, 4% lower than the same time Monday, according to Coinmarketcap data. That brought its year-to-date gains to 28%. Bitcoin is still about 42% below its high of nearly $65,000 in mid-April.
Bitcoin had briefly broken above $40,000 on Monday, rising above that level for the first time in six weeks. The surge was driven by a combination of positive developments, which included an Amazon job posting that indicated its interest in digital currencies and a report the US e-commerce giant had been working since 2019 on plans to accept bitcoin payments by the end of 2021.
That raised hopes among investors that cryptocurrencies could be more widely accepted as a means of payment, analysts said.
But Amazon rejected the report in an email to Insider on Tuesday. "Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," a company spokesperson said.
At the same time, the company noted it is exploring developments in digital currencies and signaled its interest in using new payments technologies on its retail platform.
"We're inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible," the spokesperson said.
Bitcoin's slide was a reaction to the dashing of hopes that Amazon is issuing its own digital coin or going to accept tokens as payment, Jeffrey Halley, a senior market analyst at OANDA, said in a note.
"Despite today's retreat, the digital Dutch tulip is still holding onto most of its gains from yesterday," he said. "A move higher through the 100-day moving average will signal the next leg higher."
Bitcoin still needs to recover the range high of about $42,000 for investors to be technically bullish, said Marcus Sotiriou, sales trader at UK-based digital asset broker GlobalBlock.
- What to watch today: Dow futures cut sharp overnight losses after Friday's records CNBC
- China’s Crackdown Stocks Extend Declines Into a Third Day Yahoo Finance
- Asia equities tick up, as investors look to the U.S. Reuters
- Hong Kong's Hang Seng index drops more than 2%; China tech stocks remain under pressure CNBC
- Asia Stocks Turn Lower on Caution Over China Curbs: Markets Wrap Yahoo Finance
- View Full Coverage on Google News
- As Virus Cases Rise, Another Contagion Spreads Among the Vaccinated: Anger The New York Times
- As Delta variant spreads, so do vaccine mandates Yahoo News
- Major medical groups call for employers to mandate Covid-19 vaccines for health care workers CNN
- Private companies must require vaccines for workers. It's the only way to get past COVID. USA TODAY
- Time for Boston to require city workers to get vaccinated against COVID-19 The Boston Globe
- View Full Coverage on Google News
Four officers who responded to the deadly insurrection at the U.S. Capitol will give testimony to the newly established, Democratic-led panel investigating the attack.
(Image credit: Anna Moneymaker/Getty Images)
House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy have sparred over who should be a part of the select committee, which is tasked with investigating the U.S. Capitol riot.
(Image credit: Alex Wong/Getty Images)
Seven Democrats and two Republicans — all selected by House Speaker Nancy Pelosi — make up the committee tasked with investigating the violent attack on the U.S. Capitol on Jan. 6.
(Image credit: Tom Williams; Caroline Brehman/CQ Roll Call)
A violent hailstorm in northern Italy brought part of the highway between Milan and Naples to a brief standstill on Monday. Hundreds of cars were damaged as the hail battered their windscreens, forcing drivers to pull up by the roadside, and causing authorities to close some of the route for a short time. A number of people were hurt, mainly by glass shards from cracked windscreens. No one is believed to have been seriously injured.
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