The cryptocurrency market digest (BTC, e-CNY). Overview for 14.06.2023

The BTC price dropped to 25,977 USD on Wednesday.

The flagship cryptocurrency remains as volatile as before. The weekly decline is estimated at 3.6%. A significant support level is at the 25,400 USD level. Below it, there is new support at 24,480 USD.

BTC is being bought during the fall, but not very effectively. Seasonal patterns still favour steady growth, but the market is facing negative news. So far, there is no reason to ignore it. The rhetoric of the US Securities and Exchange Commission (SEC) is too aggressive. No one knows how the SEC will behave next and what actions it will take. In such conditions, investors prefer to wait with buying actively.

The capitalisation of the cryptocurrency market amounts to 1.058 trillion USD. BTC’s share has risen to 47.6%, while the share of ETH has consolidated at 19.8%.

US Treasury to make digital dollar anonymous

The US Department of the Treasury is looking at ways to keep the use of digital dollars confidential. The goal is to make retail CBDC transactions as confidential as possible. However, it is still not clear whether the digital dollar will launch at all and whether it is worth proceeding with its development.

Tourists in China can exchange currency for e-CNY

China is making new attempts to attract tourists to Hainan Island. Travellers are now offered the option to buy cryptocurrency. Thus, tourists can exchange 20 different currencies for digital yuan through vending machines. The device accepts dollars, euros, and other currencies, issuing a physical card with digital funds in return. It can be used for purchases from specific sellers.