The cryptocurrency market digest (BTC). Overview for 14.11.2022

On Monday, the BTC is balancing near 16,746 USD. The morning session was much more complicated than expected, with a noticeable decline and sales.

Losses of the BTC over the week exceeded 20%. The crucial reason for the sales, as you remember, is the story with Binance and FXT.

At the market, they are actively discussing the version that the tweets and publications against FXT were not without a purpose. Binance washed off the rival virtually overnight. We will see what regulators will do. However, trust to crypto has dropped noticeably. The market swiftly recalled the story with Terra and Luna, which was a costly and painful experience.

The range of strong supports for the BTC has moved to 15,550-18,200 USD. Risks of falling to 12,000-12,500 USD are growing too fast.

Capitalisation of the crypto market is now estimated as 840.77 billion USD, the BTC taking up 38.3% and the ETH – 18.3%.

Withdrawal of the BTC was the largest – Glassnode

Glassnode watchers say that with all the volatility, withdrawal of the BTC from crypto exchanges turned out almost at the all-time peak of 106,000 BTC a month. The leading crypto has already faced a similar situations three times.

UAE schools will teach the basics of blockchain and the metaverse

Educational institutions at the UAE are introducing new lessons on blockchain, the metaverse, and cryptocurrencies. They say that the virtual reality is developing fast, so these new lessons will prepare schoolchildren for the labour market of the future.