Cryptocurrency (BTC) market summary. 01.07.2022 Overview :: InvestMacro

Cryptocurrency market sells. In the past 24 hours, Bitcoin lost 2.85% and fell below $20,000, a psychologically important level. One should note that the cryptocurrency market has not responded positively to any domestic attempts by US indices to rise. On the other hand, any slight drop causes the cryptocurrency market to fall.

The technical picture shows that BTC broke the previously identified support area at $19,700 and is currently trading not far from $19,500. The closest target is $19,400 – after it is broken, the asset may go towards $17,500.

In the near future, earnings season will begin in the United States. Considering that the second quarter experienced the largest increase in inflation, one should not expect any significant results. If the BTC-related S&P 500/NASDAQ index drops, the crypto market will follow.

Top 10: Everything is so shaky

DOGE (-3.77%) and ETH (-3.37%) have been the worst in the past 24 hours. BNB (+0.12%) and SOL (-0.02%) were more or less stable.

The share of BTC in the crypto market is currently estimated at 42.6%, ETH – at 14.7%. An interesting fact is that the market share of major cryptocurrencies is decreasing, while that of stablecoins is increasing. The total cryptocurrency market capitalization is $0.870 trillion.

Samsung enters the chip market

Samsung plans to continue manufacturing the new generation of 3nm chips for mining. It will be compatible with ASIC miners and will allow not only to increase mining speed but also reduce power consumption.

Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.

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