Market preview
The cryptography market has been on a downward trend for 12 days, falling to 3.76 billions of dollars on Tuesday morning and later stabilizing at 3.79 billions of dollars. Capitalization fell below the 50 -day mobile average and the recent stockings area, giving a technical signal for a change in downward growth trend. The decreases in this area in the past three months have been close to the bottom of local corrections.
The feeling index remains quite stable in neutral territory (48 against 47 the day before). The decreases in this area in the past three months have been close to the bottom of local corrections.
Negotiates nearly $ 110,000, falling to a hollow of $ 108.5,000. Local attempts to stabilize in BTC are replaced by even greater sales, which has led to new hollows in recent days. Bitcoin encountered resistance near the current levels in January, May and June. As expected, the old strong resistance becomes important support. A failure below will open the way to $ 100,000. The possibility of holding now inspires the Bulls to make a new push towards the tops.
New context
The information appeared on X on a large Bitcoin whale which would have sold more than 24,000 BTC in a few days, resulting in a sharp drop in its price. However, Kronos Research believes that it is difficult to locate a single culprit for the fall in BTC and that it is the result of the actions of several whales.
According to Whalewire, most of the profits have been moved. The slow growth of bitcoin in the current cycle is associated with sales by “old whales”, according to analyst Willy Woo.
The Philippin Parliament proposed to create a strategic reserve of 10,000 BTC. If the invoice is adopted, the country’s central bank will buy 2,000 BTC per year for five years.
The Japanese Minister of Finance said that cryptocurrencies could be part of diverse portfolios thanks to the creation of an appropriate investment environment. However, he recognized that these assets include risks of high volatility.
Economist Harry Dent said three graphics – Bitcoin and – show signs of an imminent accident in the next two years.
The FXPRO analyst team
