The cryptocurrency market continues to decline against the background of the deficit of demand.


Bitcoin continues to feel the deficit of demand. Restoration of quotes to $ 33,000 on Wednesday, stimulated by the heads of the Fed chapter on the absence of a rush with the revision of the quantitative mitigation program against the background of inflation enhancing, could perform a good signal to complete the downward speakers ongoing since late June, but buyers did not develop success.

On Thursday, the BTC rate has reached a minimum over the past two weeks and further raised rates in the short-term vector issue. Care below $ 31,000 can provoke the triggering of the stops in long positions, as a result of which the current consolidation phase can be changed by a pulse movement down to $ 20,000.

«The schedule looks» terrible, «said Jeffrey Gundles, one of the largest bonds gunds, and it’s hard to disagree with him. At the same time, there are still a chance of a rebound to the upper border of consolidation $ 30,000- $ 40,000 — the spring has not yet been broken.

The current disposition is indeed due to the deficit of demand. Market «

Statement by the head of the Fed of Jerome Powell about the fact that after the appearance of the digital version of the dollar, the world will not need stelkopins and cryptocurrencies, as a whole, cannot but cause smiles. Probably PayPal, raising weekly shopping limit for customers from the USA to $ 100,000, makes an incorrect strategic step. Like Square, who announced the development of the Defi service creation service, is mistaken and throws money to the wind.

However, institutions that determine the weather on the market, we need regulatory specificity. And it is not yet and the situation is not changing for the better. In the UK, they decided to spend money on social advertising about the risks of cryptocurrency. And the US Ministry of Justice announced that Binance requires help in investigating criminal offenses.

As a result, on such an informational background, retail investors cannot raise the market, and large players do not want. The current situation can be resolved on the weekend. A good option to bring the market beyond the borders of consolidation at this time, in order to ensure the emotionality of trading on Monday with the return of the main group of participants.

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