The BTC dropped again. The market melted down under the fears of the upcoming steps of the Federal Reserve System. The US stock indices slid down, and because of high levels of correlation with them the BTC lost balance as well.
For the buyers, the situation looks disquieting because the price has dropped under the support level of 22,700 and 22,500 USD.
Today the day is quite feeble in terms of statistics or events. Keep an eye on any chances for returning to 22,500 USD. And if the movements remain at the current levels, the goal near 21,000 USD will be more valid.
The current BTC price is 21,925 USD.
Capitalisation of the crypto market has dropped seriously to 1.018 trillion USD. The BTC takes up 41.4% of the market and the ETH – 18.6%.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Kraken exchange will pay 30 million USD in argument with SEC
The Kraken crypto exchange is ready to pay 30 million USD to solve an argument with the US Security and Exchange Commission. SEC got an eye on Kraken’s stacking programme as its conditions were not registered as services.
Canadian University in Dubai accepts crypto
The Canadian University in Dubai (CUB) now gives the students an opportunity to pay for studying via a Binance service. This means, they started accepting crypto. An official release goes that the CUB adapts for the digital payments space.
Crypto claims can also be assets
The Three Arrows Capital hedge fund together with Coinflex is launching a platform for deals with claims to bankrupt companies, such as FTX or Celsius. It is mentioned that the market of crypto debt claims might amount to 20 billion USD.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
- USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
- Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
- A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024
- Inflationary pressures continue to ease in the UK and New Zealand Oct 16, 2024
- EUR/USD Continues Downward Amid Economic Uncertainties Oct 16, 2024
- India is experiencing a surge in inflation. US stock indices are once again updating historical highs. Oct 15, 2024
- Brent: Slumps on easing Middle East fears Oct 15, 2024
- USD/JPY Faces Resistance Amid Geopolitical and Economic Uncertainties Oct 15, 2024
- COT Metals Charts: Speculator Bets led by Steel & Palladium Oct 12, 2024