Dollar pulls cryptocurrency and other risky assets down


The dollar pulls risky assets down, subordinating and cryptocurrencies of this trend. On Friday, the Bitcoin course falls, trying to gain a minimum of Thursday’s minimum of about $ 37400.

Earlier today was the expiration in the derivatives market, where the greatest interest was focused on the strike of $ 38,000 and now from the development of negative dynamics can only keep the triple expiration on the URAL market, which can limit the sales of risky assets as a whole, with which the Cryptovalus is traced to the correlation.

The reason for investors in all markets to go for the weekend is not in the rainbow mood, the results of the last meeting of the Fed were the results. After improving the forecast of inflation for this year, the Committee allowed that by the end of 2023 the key bet will increase twice. Previous expectations were not so aggressive. The volume of purchases of market assets remained unchanged, but its adjustment is only a matter of time. So far, it will not be known whether this will happen in September or macroeconomic data will allow the Fed to postpone the launch of policies to December. In any case, the rates will subsequently be higher and the countdown has already begun.

An alarm signal also appeared on the cryptocurrency market. According to Glassnode, long-term Bitcoin investors seemed to be improved, and reduce the positions of «in profits». This indicates the LTH-SOPR indicator. Earlier in Santiment, they were calculated that for the previous 25 days the owners of addresses on which from 100 to 10,000 BTC were stored, increased their positions worth

Now if they switch to sales, exit from the current consolidation up, to which optimists are calculated, it will be questionable. Locally confirmed the formation of a downward wave to $ 35,000 (maybe below if the movement is dynamic).

On Friday, it also became aware of the requirement of the authorities of the Chinese province Sichuan to suspend operations until June 20. Alibaba Cloud warned that he could suspend the provision of domain services due to regulatory requirements.

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