The cryptocurrency market digest (BTC, APTOS). Overview for 19.10.2022

BTC did not rise following the stock market and even declined. The flagship cryptocurrency is holding around 19,157 USD on Wednesday. BTC’s correlation with the S&P 500 and Nasdaq indices has momentarily weakened. This is due to a lack of liquidity on the floor, as well as the formation of bearish signals on time frames below the daily. Cryptocurrency exchanges still have no “ideas” of their own.

Technically, the area of 18,000-19,000 USD is still being held back by the sellers. However, it is no longer certain that the next bearish attack will hold. The faster the market advances to 20,500 USD and starts storming the resistance at 21,500 USD, the better the chances are for the continuation of the rally.

Energy consumption on the BTC network has increased over the year

The BTC Mining Council (BMC) presented statistics for Q3 2022, which show a 41% increase in BTC network energy consumption over the past 12 months. Data from more than 50 cryptocurrency miners was used to compile the report. Interestingly, mining all existing crypto-assets consumes approximately 0.16% of the world’s electricity production.

APTOS token “soars into the sky”

The APTOS token appreciated after Binance opened trading with the coin. The starting price was 1 USDT, rising to 100 USDT in the first minutes of trading.