Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Bitcoin is currently trading at around $23.0K. Spikes to $23.7K and down to $22.5K leave their mark on the chart but do not move the market's balance point. Interestingly, this oscillation occurs with a rising equity market in the background and a moderately weaker dollar, although this environment often feeds demand for risk.
This buyer passivity may be a consequence of fatigue after the 44% rally since the start of the year, but it may also reflect an internal pull to sell on the upside. This applies to the crypto market, whose capitalisation has stabilised at just over $1 trillion.
It is worth being prepared that there may be a lack of major moves until the Fed's decision next Wednesday.
According to research from CryptoCompare, the market share of algorithmic stablecoins has dropped sevenfold since April last year to 1.7% of all stablecoins.
US Senator Elizabeth Warren has said that the crypto industry fears a crackdown by the US Securities and Exchange Commission (SEC). However, she said the SEC should redouble its efforts to provide maximum protection for investors.
Gabriel Makhlouf, Governor of the Central Bank of Ireland, has proposed a ban on cryptocurrency advertising to protect retail investors from losing money.
China's tax authorities have increased pressure on retail crypto investors, requiring exchanges and retail and corporate investors to provide comprehensive information on all digital asset transactions from the beginning of 2022.
Amid a general market rally, the price of the Aptos (APT) cryptocurrency has risen more than 390% in the last 30 days. Aptos has surpassed Stellar and Bitcoin Cash in capitalisation (almost $3 billion) and is approaching Ethereum Classic and Monero. The leading BNB chain-based decentralised exchange, PancakeSwap (PCS), announced its integration with Aptos in October.
About the author
Alex Kuptsikevich is a financial market professional with 16-years’ experience and a senior financial analyst at FxPro. He is the author of daily reviews on the impact of economic events with comments featured in top international and Russian media. Alex covers fundamental analysis, global markets, the foreign exchange market, gold, oil, and cryptocurrencies in his analytical pieces. As the senior financial analyst at FxPro, Alex is a guest expert in 1-tier global media such as Forbes, Coindesk, Euromoney and Morning Star.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.