Cryptocurrency (BTC) market summary. 11.07.2022 Overview :: InvestMacro


BTC is dropping smoothly. On Monday, the leading cryptocurrency will drop to $20,510. This is the third consecutive day of weak sales after Friday, when the crypto approached $22,300.

An important resistance level remains at $23,500. It must be crossed until the price holds above it if the market is dependent on any upward movements.

With BTC’s timid growth last week, investors have expressed their first hopes for the crypto spring that will come if BTC succeeds. However, we’re not optimistic that corporate reporting season is coming up in the US, and it might bring us some surprises. The Nasdaq and S&P 500 indices are very significantly related to Bitcoin. If US markets fall, cryptocurrency will plunge.

The United States decided on regulations

The issue of enforcing regulations on cryptocurrencies has been one of the major problems in the field of finance in the United States. In the end some activity happened. The US Treasury has presented a document outlining the framework for interaction between countries in the field of digital assets. The main objective of the document is to bring crypto activities into line with the democratic values ​​of the United States. Furthermore, there are plans to protect consumers in the United States and the world through the publication of standards and technologies.

Compass mining will reduce the number of employees

Mining company Compass Mining has announced plans to cut staff. The company will fire about 15% of its employees and start paying senior management 50% less. Compass Mining is correcting its business due to market condition.

Celsius will have to answer the accusations of fraud

Cryptocurrency platform Celsius has been accused of $1 million in fraud. The claimant is a former business partner who insists on pursuing the dividend agreement. The platform must respond to the charge within 20 days.

Article by RoboForex.com

attention!
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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