The BTC on Wednesday rose to 28,872 USD.
The correlation between the BTC and the Nasdaq and S&P 500 indices remains disrupted. This is due to a significant influx of internal news within the cryptocurrency sector.
An important resistance level of 28,300 USD was broken overnight, which is a positive signal. The market reacted positively to the launch of the new cryptocurrency exchange EDX Market, and the news about Deutsche Bank’s application for a license with the German finance regulator.
Furthermore, earlier news about Binance.US reaching an agreement with the SEC also enhances local optimism.
The capitalisation of the cryptocurrency market increased to 1.135 trillion USD. BTC’s share has risen to 49.4%, while the share of ETH has dropped to 19.2%.
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Cryptocurrency exchanges saw a surge in market activity
Following the collapse of the FTX exchange in November last year, some cryptocurrency exchanges saw a decline in user interest. Kraken and Bybit are currently seeing a resurgence in trader activity. On average, trading volume on the exchanges is up 5% over the past six months.
Article By RoboForex.com
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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.
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