The cryptocurrency market continues to deal with the consequences of the regulatory storm


The cryptocurrency market continues to move away from the consequences of the regulatory storm, and the current situation still does not indicate the completion of the correction phase.

At the weekend, Bitcoin tested the lower line of the triangle — it remains to «draw» the last turn up to $ 38,000, after which the retiest of the minimum of May 19 will follow $ 30 thousand in JPMorgan, they do not exclude «complete surgasive surgery» with drawdown to $ 26 thousand. Similar script is possible and In the market of altcoins, taking into account the growth of their correlation with BTC (according to Messari, the indicator rose to 60-80%). In particular, Ethereum can chef to $ 1900.

For confident dominance of buyers, the corresponding news background has not yet developed. Cash regulators continue the attack on Bitcoin, using the May correction as a prevention of retail investors about the danger threatening due to their inherent volatility. Over the past days, such comments were sounded from the Health of the Central Bank of Japan, South Korea and Ireland.

Continue to «thicken clouds» over American taxpayers. Last week, the SEC Head Gary Gensen proposed to consider the option of tightening oversight over cryptocurrency exchanges. Today it became known about the plans of the US authorities to add data on the owners of cryptoacivals to the overall standard for exchanging financial information and expand the list of reporting entities on the stock exchange and custodial services.

News can be interpreted at different angles — and both legitimizing the class of assets that will bring problems to traders who are ready to comply with the laws, followed by the removal of pressure regulators and the attempt to «prohibit Bitcoin». The last option in the short term can

It is necessary to take into account the overall cooling of risk-appetites in traditional financial markets. This Friday will be released on the Labor Market Market for June, which can «shake» traditional markets due to the revision of the expectations of turning the federation of a quantitative mitigation program against the background of further growth in jobs, which will strengthen the current inflation trends.

BTC recently did not behave as an asylum, giving this status to gold. On Monday, however, in the US and Great Britain, the day off — today, today, technical factors can work, which speak of preference to long positions before touching the upper boundary of the forming triangle.

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