PayPal Discloses Nearly $1 Billion in Crypto Assets on Balance Sheet

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Today’s Cryptocurrency Headline

PayPal has disclosed in its 10-Q filing with the US Securities and Exchange Commission that it holds nearly $1 billion worth of cryptocurrency on its balance sheet. The assets include Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, held on behalf of its customers, with a total value of $943 million. The company does not hold any cryptocurrency on its balance sheet outside of its customers’ assets.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin’s daily candlestick chart shows a period of consolidation at lower levels, with the key support level of around 27250 being tested repeatedly. Whether this support level can hold or not remains to be seen. The recent price action has caused the candlestick to fall below the EMA60 support at 27500, while the MACD and KDJ indicators show bearish signals, but with signs of slight bullish divergence at the bottom. Overall, the trend remains unclear. Traders should prepare for both bullish and bearish scenarios.

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