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Bitcoin price hit a 30-day low on May 24 at $26,113 as traders worry that a larger price dip is possible, noting that the 5% 24-hour drop is a key moment of truth for the crypto market.
Right as analysts thought that Bitcoin (BTC) was on the cusp of showing signs of a price breakout, the crypto market took a turn to the downside amid increased regulatory uncertainty. Now it seems BTC is stuck far below the $28,000 resistance level.
Analyst Michael Pizzino discussed short-term performances for major coins such as BTC and ETH and his predictions for these tokens. In the video titled âBulls TRAPPED In Crypto Pump?! Watch THIS Bitcoin Signalâ the analyst performed a quick analysis of BTC, Ethereum, RNDR, SOL, MATIC, ADA, among others.
tThe danger sign for ETH, Pizzino says, is that it breaking under the support of $1840
Fred Pye, CEO of 3iQ, Canadaâs first Bitcoin fund issuer, said in an interview with Cointelegraph that as âthe FOMO in Bitcoin is goneâ institutional investors and portfolio managers have started to take a look at it as âa serious venue.â
Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoinâs (BTC) bear market in 2022 ended the hype that was seen in 2021.
Karnn Bhandarii, a pro-crypto Tedx speaker, argued that MetaMask had included the controversial line to satisfy Apple store and some banking partners. While nothing that a DeFi wallet holder can be anyone, he asked a thought-provoking question: âWhich country taxes are they gonna withhold?â
In his example:An American citizen working in the UK and has a business in Dubai with short trips to India. Which country gets the Taxes? DeFi will never die; in fact, it will grow more.
In his example:An American citizen working in the UK and has a business in Dubai with short trips to India. Which country gets the Taxes? DeFi will never die; in fact, it will grow more.
Ripple will partner with Taiwanâs Fubon Bank and others to demonstrate equity release with tokenized assets using a retail version of the e-HKD CBDC. Equity release, also known as a reverse mortgage, is the practice of a lender letting a homeowner access the equity in their home, with payment coming due only when the house is sold or the borrower dies.
Ripple will participate in the Hong Kong Monetary Authorityâs (HKMAâs) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program by showcasing a real estate asset tokenization solution. The company will reveal its new CBDC platform at the same time.
When levees break, liquidity flows â Analyzing Ethereum Shapella and liquidity staking derivatives
Volumes from the top five Ethereum staking platforms suggest holders are hedging against the unknown until after ETH withdrawals are enabled.
#Ethereum
Volumes from the top five Ethereum staking platforms suggest holders are hedging against the unknown until after ETH withdrawals are enabled.
#Ethereum
Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support and this could provide tailwinds for altcoins.
#BTC
Pancakeswap Launches Version 3 of Protocol on BNB and Ethereum Blockchains
#crypto2023
#crypto2023
Bitcoin, Ethereum Technical Analysis: BTC Nears $29,000 to Start April, as ETH Also Rebounds
#crypto2023
#crypto2023
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FOMC
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Market Update -
We are seeing low volumes for $BTC at the moment which is to be expected considering tommorows FOMC will be the most important of the year. Many people are waiting to position, so right now patience could be the best trade for $BTC. $59k remains resistance where we have the DM VAH and Daily EMA200.
If we get another sell off after the US stocks open, we are looking for $57.5k (Monday Low) to hold or it is likely we will visit closer to $56k. Let's see how things develop in the next couple of hours.Â
The Monday Range this week is $57,445 - $59,182.
#FOMC #Write2Earn!
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