Bitcoin moved within the range of 63854-65993 during the day
At the time of writing the Review, the price of Bitcoin was 64834
Market capitalization 2.32 trillion, dominance index 55.12%, fear index 61
Stock markets were down yesterday. The S&P 500 closed with minus 1.39%, the NASDAQ generally fell by 2.94%.
The reason is that Trump said that Taiwan should pay the US for defense since it captured 100% of the microchip business. TSMC shares immediately fell by 6%. And they became the reason for the drain on the long-term and severely overheated market (the technology sector in the first place). But the Dow Jones rose by 0.59%, so this is not so much a correction as a rebalancing.
At the same time, the dollar index is declining and is now at 103.5, which is always good for the market.
S&P 500 futures are currently in the green.
What's important today.
- Labor market data at 15-30 and leading economic indicators at 17-00 Moscow time.
- Trump is clearly dominant in the election campaign. In addition, there was news about Biden's coronavirus, which could be a good reason to leave the game. Whether there will be a response from the Democrats or whether they are now bargaining for guarantees from the future winner is an important question for understanding the prospects of the markets.
Bitcoin has worked out the priority version of yesterday's Review.
The fall of the stock market did not particularly affect the crypto market - they did not fall further than 64K. But the growth has stopped, and we see some stabilization.
Mt. Gox distributed 36% of BTC. Everything is fine in the market. And it will be even better when they find out how much they actually earn there.
Meanwhile, 9 ETH-ETF issuers have announced their fees. And Ether is still below 3500. The assets associated with it are still not far from the bottom. Like many other TOP alts.
The situation is obvious and understandable. And it's been going on for quite a long time. Very few people will use it.
And this is also one of the features of the market.
When Bitcoin was below 1000 some 8 years ago, everything was obvious. But alas, few wanted and were able to take more than 60X (at the moment).
Bitcoin below 5K 4 years ago was also of little interest to anyone
Six months later, everything was already more than obvious - but they were also afraid to take Bitcoin below 12K (after all, it had already doubled in six months).
More recently, at the beginning of 2023, people were also wondering whether it would be expensive to buy Bitcoin below 20K? What if he falls again?
But everyone will buy Bitcoin at 90-100K and Ethereum at 7-8K). This is how the market works. If a person wants to remain in the market crowd, that is his choice.
The priority option for today is Bitcoin in a range with a lower limit at 63500-63000 and an upper limit at 65800-66200
Alternative - consolidation above 66200
