Cryptocurrency (BTC) market summary. 13.07.2022 Overview :: InvestMacro

BTC has been dropping for 4 consecutive trading sessions and today it is finally trying to rally. second. The asset balances at $19,489.

The current technical picture shows that the pressure and tension of the global market, which is difficult to overcome, is pushing BTC down to the support levels at $19,300-$19,400. If the bears break them, the asset could drop to $16,000 or even $12,500. What happens next depends on market activity and liquidity: if there is little money and demand, the price will fall quickly and deeply.

BTC remains highly correlated with the S&P 500 and the NASDAQ. The US stock market has been selling for a week to date. Investors aren’t as emotional as they might be, but they keep selling. It’s bad for BTC.

I paid off a percentage of the debt

Celsius Network has paid off its debt to DeFi Aave, $63.5 million. Earlier, Celsius found itself in dire straits and had to decide to suspend all operations with customer accounts. It happened amid a global decline in cryptocurrencies and a deterioration in market conditions.

Fuld lacking dough

As for the Singaporean fold platform, the situation is quite the opposite – hard times have just begun. The crypto platform has asked the court to suspend the payment of the debt. The company is in default of $70 million in debt payments. Just like Celsius, Fuld struggled after BTC, ETH and UST started dropping.

Binance may be subject to US secondary sanctions

Seven Iranian cryptocurrency traders said they were using Binance until September 2021 despite the ban in 2018. It turns out that this is possible because customers can sign up using only their email address. Iranian merchants were working with Binance until the platform started screening users. Now Binance may be subject to US sanctions, which could cast a shadow over its business reputation.

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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