The BTC exchange rate dropped to 29,190 USD on Wednesday. The risks of the price testing the local low near 28,585 USD are still relevant.

Critical support levels remain at 28,600 USD and 28,350 USD, with resistance at the 30,300 USD mark. The stability of the flagship cryptocurrency is crucial for a few more weeks before a favourable seasonal driver comes into effect.

The cryptocurrency market capitalisation decreased to 1.160 trillion USD. The BTC share increased to 49.0%, while the share of ETH stands at 18.9%.

First Bitcoin ETF launched in the EU

The first Bitcoin ETF was officially launched in the EU this week. Jacobi Asset Management announced the listing of the product. Although initially planned for 2022, the launch was postponed due to the FTX exchange crash. The fund is listed under the ticker BCOIN.

HBAR token gains 25% in value

The price of the HBAR token surged by a quarter over a week. These dynamics allowed the coin to secure the second position in the efficiency rating of cryptocurrency assets. However, not for long.

Shiba Inu team announces significant events

The developers of the Shiba Inu project utilised their social media networks to tease the cryptocurrency community about upcoming major events. Some users speculate that this might refer to the upcoming launch of the Shibarium network.