The cryptocurrency market has experienced significant fluctuations over the past 24 hours, leading to the possible start of a recovery rally. Variants of possible movements are depicted in the photo.
Main events of the last day:
US approves hybrid ETFs: The US Securities and Exchange Commission (SEC) has approved the first spot exchange-traded funds (ETFs) combining Bitcoin and Ethereum, a move that could boost investor confidence and attract new capital to the cryptocurrency market.
Large investor activity: One of the Ethereum whales, which had been inactive for two years, transferred 10,000 ETH to the Kraken exchange. This event may indicate preparation for a sale or reinvestment, which affects market dynamics.
North Korean Hackers: Hackers linked to North Korea have stolen $1.34 billion worth of crypto assets so far this year, exceeding previous years’ figures, highlighting the need for increased security in the crypto industry.
Market situation analysis:
The current price swings and positive news could indicate the beginning of a recovery rally in the crypto market. However, investors should be cautious, given the potential volatility and external factors affecting the market.