Bitcoin will likely trade in a range between $60,000 and $70,000 through the next few months, the former BitMEX CEO said.

Both equities and gold have been trading lower since reaching highs in mid-April, the report said.

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The latest price moves in bitcoin (BTC) and crypto markets in context for May 3, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Bitcoin held steady as the dollar index nursed losses ahead of a U.S. jobs report that is expected to show the unemployment rate remained below 4% for the 27th straight month.

The payments firm announced the news alongside its first quarter earnings report on Thursday afternoon.

Crypto markets have seen significant profit taking in recent weeks with retail investors playing a bigger role than institutions, the report said.

U.S. Sen. Elizabeth Warren (D-Mass.), one of the most prominent critics of cryptocurrency hazards, warned the top military and financial officials that Iran relies on digital assets mining as a source of revenue that can lessen the pressure from U.S. s...