Bitcoin

Bitcoin continued its decline yesterday after the market was unable to overcome the strong resistance level of $70,000.

It closed lower for the second day in a row, with a small loss of nearly 1% over the past 24 hours, and is now back just above the $66,000 mark.

This week, the U.S. government transferred $2 billion in Bitcoin from the confiscated Silk Road Fund. In addition, FalconX sold 1,000 BTC worth $69.52 million on Binance.

On-chain data shows that the Coinbase Premium Index has fallen below its 14-day simple moving average, indicating increasing selling pressure.

BTC will focus on the support level of 65500 during the day. It will fluctuate in the range and is expected to go up and down in the evening. It is expected that the fluctuation will end after the Fed meeting.

Altcoin market sees slight decline

The top 100 major projects are Sei (SEI), Akash Network (AKT), Theta Network (THETA), Ethena (ENA), Immutable (IMX), Tron (TRON), Sui (SUI), Pepe (PEPE), Pyth Network (PYTH), BitTorrent (BTT), THORChain (RUNE), Quant (QNT), Arweave (AR), StarkNet (STRK), Worldcoin (WLD), Injective (INJ), Arbitrum (ARB)… evaporated from 3 -7% of the value.

Ethereum (ETH) also fell yesterday, falling below the $3,300 mark.

The second-largest token on the market is currently priced at around $3,284, down nearly 1% from the previous 24 hours.

ETH is focusing on the support level of 3260 below during the day. It is expected to break through after tonight. The pressure level of 3360-3380 is also concerned.

(Personal opinion, not a recommendation)

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