Bitcoin was in the range of 65862-70079 during the day
At the time of writing the Review, the price of the main cryptocurrency was 66642
Market capitalization 2.34 trillion, dominance index 56.10%, fear index 67
Stock markets yesterday started the session vigorously, but by the end of the session the growth was lost and as a result the S&P 500 closed almost at zero (profit 0.08%). Nasdaq closed with a plus of 0.19%
The 10-year yield and the dollar index rose, while oil fell to its lowest since early June.
Many market participants took profits before important events in the markets (reports from tech giants and the Federal Reserve meeting, as well as data on the labor market at the end of the week). The weak report from McDonald's (the first drop in sales in 13 quarters) did not add optimism to the markets.
The figure announced yesterday of 35 trillion US debt, which set another record, did not add optimism to the markets.
Today the main market event will be the Microsoft report.
There will also be a lot of data on the European market (GDP and inflation for Germany and the EU). But lately what has been happening in European markets has had little effect.
Bitcoin reached 70K, as they said yesterday morning, but then dropped sharply (below 66K). Now the price has stabilized around 66500.
The reason is the actions of the US government, which began to move reserves by 2 billion.
For what?
This is a reaction to Trump's speech at the Bitcoin 2024 conference. He promised not to drain reserves and increase them. Democrats immediately reminded that the reserves are still in their hands.
In fact, extremely stupid on the part of the Democrats. Thus, they cemented in the minds of the crypto audience the pattern “Trump means market growth, Democrats mean fall.” Instead of taking advantage of the fact that they are still in power, to seize the initiative and win at least part of the crypto audience, as I described here.
Blockheads).
If they actually start selling, then the fight for the crypto audience is over and lost for them.
Most likely, it will not come to real sales. But, if they don’t make some strong moves in favor of crypto, then this audience is mostly already lost for them. And this is very serious. Since this is not only 10-12% of voters in terms of quantity, but also a much greater weight in terms of quality. Because people who have crypto are smarter, richer and more influential than those who do not have crypto. No matter how offensive this may sound for those who are still thinking about whether to buy crypto or not, it is a fact).
I think that among the Democrats there must be at least someone with a brain and they will try to change the situation. Moreover, attempts are already being made. Members of Congress from the Democratic Party (27 politicians) sent a letter to the Democratic National Committee asking for a “reset” of cryptocurrency policy.
Key thoughts:
- Select a vice president who supports cryptocurrencies and understands digital assets;
- select an SEC chairman who advocates innovation;
- offer to actively interact with the industry.
But for now this is just a proposal.
Interesting stuff.
- BTC-ETF turned out to be the most successful of all ETFs in history. Assets since launch in January exceeded $50 billion
The priority option for today is Bitcoin in a range with a lower limit at 66000-65500 and an upper limit at 70000-702000
Alternative - fixation below 65500
