The BTC rate on Friday stood at approximately 29,229 USD.
Each new attempt by BTC to rise becomes increasingly difficult. The overall fundamental background appears quite calm, lacking spark. The technical picture is more pessimistic. According to seasonal cycles, the current phase is bearish.
Investors are unable to capitalise on the buying impulse in the US stock market due to decreased correlation with indices and stock exchanges. There is not enough news generated from the cryptocurrency market for a confident move into positive territory.
The cryptocurrency market capitalisation remains at the level of 1.180 trillion USD. The share of BTC has decreased to 48.2%, and the share of ETH reached 19.1%.
SOL has recovered after a decline in June
The value of the Solana (SOL) token has recovered after a 41% drop in June. The trigger for the sell-offs was the claims made by the US Securities and Exchange Commission (SEC) against the company. The SEC deemed SOL to be an unregistered security.
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.
“Whales” are accumulating bitcoins
According to CryptoQuant, large holders of digital assets are accumulating coins while the market remains in a sideways range.
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.
- European indices grow on the ECB’s “dovish” position. Quarterly reports of mega-companies support the broad market Apr 29, 2024
- Japanese yen shows volatility amid speculation of intervention Apr 29, 2024
- COT Bonds Charts: Speculator Weekly Changes led by 5-Year & 10-Year Bonds Apr 28, 2024
- COT Stock Market Charts: Speculator Bets led by VIX & Russell-Mini Apr 28, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal Apr 28, 2024
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
