Overview of the current situation
The cryptocurrency and traditional asset markets continue to show high volatility. Bitcoin, the key cryptocurrency, is consolidating in a narrow range, indicating uncertainty in investor sentiment. Stock indices such as the S&P 500 and Nasdaq are showing moderate declines, reflecting fears of a possible recession.

Key Events
Macroeconomic data:
The market will not be boring today. First, the labor market data will be released, then the PMI business activity index data. They will set the direction for the stock market today.
The main movement will be tomorrow, after the release of Nonfarm Payrolls.

S&P 500 futures are now almost flat, the dollar index is also flat, Asian indices are mixed, although the Nikkei has fallen more than 1%

Geopolitical situation: Trends in the geopolitical arena also have an impact on the markets. In particular, news about the adoption of cryptocurrencies at the state level, as in the case of the United States, can stimulate an increase in interest in digital assets.
Technical Analysis: Bitcoin is showing signs of consolidation after its recent rally. Short liquidation suggests that many traders are expecting the price to rise further.

Forecasts

Bitcoin: Priority option for today - Bitcoin in the range with the lower limit at 56200-55800 and the upper limit at 58400-58600
Alternative - consolidation below 55800
S&P 500: After yesterday's decline, the index may try to recover. However, there is a risk of further decline in case of negative macroeconomic data. The expected range for the S&P 500 is 4300-4350 points. The support level at 4280 points may limit the decline."

Institutional Investments: The gradual penetration of institutional investors into the cryptocurrency market contributes to its stability and attractiveness.

Recommendations
Investors are advised to exercise caution and carefully analyze the market situation before making decisions. Portfolio diversification and the use of risk management tools can help reduce potential losses.

Something interesting.
- Coinbase has announced that U.S. presidential candidate Kamala Harris is accepting crypto donations through Coinbase Commerce. This marks the first election in which both candidates have accepted crypto donations.

If you remember the 2020 elections, then Trump called Bitcoin a scam, and Biden did not even understand what it was).
This is how much progress we have made in 4 years.

- According to Glassnode, the number of addresses holding $1BTC or more has approached an all-time high and currently stands at 1,013,606.
And the historical maximum was on January 1, 2024 and amounted to 1,024,468 addresses.
By the way, a little more than 2 months after reaching this maximum, Bitcoin reached ATH.

Please note that there are only a little over 1 million addresses that have at least 1 BTC. Considering that there are also addresses of exchanges and other services, and many addresses have one owner, then there will be at most 600-700K real people who own at least 1 Bitcoin.
Can you imagine how far we are still at the beginning of our journey?

Disclaimer: This material is for informational purposes only and does not constitute financial advice. Before making investment decisions, it is recommended to consult a qualified specialist.