The cryptocurrency market saves strength to exit consolidation, while keeping the chances of growth


The weekend did not change the alignment on the cryptocurrency market. BTC remained in the corridor of $ 31,000 — 32,000, again unsuccessfully making an attempt to dial height on the news of Clearing

According to GlassNode, in the range of $ 31,000 — 34 500, almost 10% of the supply volume was launched — above was only in those times when Bitcoin was near $ 12,000. The market is gaining energy and is preparing for exit. According to the observations of Mati Greenspina from Quantum Economics — down («The schedule looks terrible»). But, as you know, the behavior of the market is often different from our expectations, so it is impossible to exclude that consolidation is allowed to break through the upper boundary. The chances of it remain.

Compression in recent days is related to sales expectations by the owners of the Bitcoin-Trust from GRAYSCALE INVESTMENTS — the largest unlock will take place today. Earlier in JPMorgan called this factor with a potential driver of a decline to $ 23,000, with which many managed to disagree.

At the weekend, we prompted the news about convening on Monday of the working group of American regulators (Fed, the Ministry of Finance, SEC and CFTC) to discuss the regulation of stelkopins. The issuers of stable coins welcome such initiatives and consider it a sign of legitimization, but in fact it can lead to additional costs — recognition on a par with the funds of the money market or credit institutions. As a result, the FIAT stream on the crypton shock through the conversion in the stelkopin can relax.

It is possible that Bitcoin would now cost more, if it were not for the repression of the Chinese authorities regarding OTC platforms, which made it difficult for citizens of this country the opportunity to «exit» to the market. Over the past three weeks, Tether’s emission that was strongly tied to it was zero.

Continues to bargain the market and pressure on the BINANCE. Hong Kong regulator added to the list of claims. Cryptobria, as she claims itself, independently decided to stop trading tokens on shares. Point in this story is clearly early. The other day, the company as part of the quarterly round «burned» 1,296,728 BINANCE COIN. This allowed the daily distances to look a little better than the market.

Altkoins are generally worse than Bitcoin — the latter dominance index is kept near 45%. Etherumer on Friday still tested the lower boundary of the generating triangle for $ 1850 and how BTC can not gain height.

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