The BTC exchange rate reached 30,082 USD on Wednesday.
Last night, the flagship cryptocurrency experienced a remarkable decline and tested support at 29,800 USD. This is due, firstly, to the lack of new buying drivers. Secondly, the time factor is working against buyers: the longer the pause in purchases persists, the less positive momentum there is.
To put it simply, the market missed a favourable opportunity to rise above. BTC needs to return to 30,800 USD to continue its growth.
The cryptocurrency market capitalisation amounted to 1.210 trillion USD. The share of BTC decreased to 48.3%, and that of ETH dropped to 19.0%.
Valkyrie has filed an application with the US Securities and Exchange Commission (SEC) for approval of a licence to launch a spot Bitcoin ETF. The company has previously been involved in obtaining licences but has now revised its application to comply with the new SEC requirements.
Free Reports:
A large investor has transferred approximately 7.4 million USD worth of cryptocurrency to the Binance exchange. According to Whale Alert, this amounts to 9.8 million MATIC tokens. The MATIC rate may decrease significantly in the next few days.
Article By RoboForex.com
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