Thoughts on the crypto market on 01/13/2021

During the day, Bitcoin moved in the range of 32560 - 36500. An attempt to gain a foothold above 36K has not yet succeeded, the main cryptocurrency moved down, and, after testing the lower boundary of the range, it is now trading at about 34500.

Market capitalization is 904 billion, dominance index is 68.3%.

There is little growth in the stock markets. American indices rose from 0.19% to 0.28%. The S&P 500 closed at 3801.19. The dollar index is again below 90. Oil is growing, BRENT is already above 57 and continues to rise.

Now Asian indices are rising, S&P 500 futures near yesterday's close.

On the crypto market, Bitcoin could not gain a foothold above 36K, after which it tested support at 32600, and has been trading around 34K for the last few hours. The dominance index rose slightly, market capitalization of about 900 billion.

The fear index fell to 78 for the first time since early November. This is still a lot, but avoiding extreme values ​​is useful for the market.

The consensus on growth is leaving the market, fans of shorting Bitcoin come to life, if there are still any, talk about the future crypto winter begins. This is beneficial for medium term growth, it becomes stable and organic.

The picture of the market resembles the beginning of September, when, after an unsuccessful attempt to gain a foothold above 12K, Bitcoin fell to 10,000 - 9800. Only then the alts were driven into the bottom, and now they are holding well.

Interesting note: SBI Holdings, a large Japanese company and partner of Ripple, announces the beginning of a partnership with the large Japanese bank Lawson Bank. Now the bank's clients can use the ATM network for instant money transfers, including international ones. Featuring Ripple.

And the UK Treasury Department classifies XRP as an “exchange token” (the same thing, in their understanding, as Bitcoin and Ether). Hello to the SEC and to those who sold XRP below 0.2.

The previous forecast is relevant - the bottom is at 30,600 - 30,500, Bitcoin is 32-36K, 1 trillion of capitalization by the end of the week.

Thoughts on the crypto market on 01/12/2021

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Category: Analytics | Views: 108 | Added by: 4zvezda | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 5.0/1
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