Ethereum has held support for now as global equities found a foothold. S&P 500 as well as vNikkei futures may be bottoming. Notice also that Ethereum is in a 40-day cycle trough zone (semicircle) in chart and RSI has counted a five wave down structure, which points to maturity.
Preferred view remains for a move up back across the range and another attempt at a breakout c 3,450.
A new report highlights Thailand, the UAE, India, and the Philippines as regional leaders, driven by favorable regulations, increasing institutional interest, and a belief in the future potential of digital currencies.
BTC has soared past US$21,000. Also, Justin Sun is looking to spend a billion dollars on DCG's assets, India's RBI head is calling for a complete ban on crypto, and more.
There were US$433 million entering digital asset products last year, down 95% and 90% from US$9.1 billion in 2021 and US$6.6 billion in 2020 respectively.
There has been little action around the two main cryptocurrencies in the past month, and Bitcoin’s dominance of the crypto market still stands at 40.15%. The question on everyone’s minds is whether the crypto market has bottomed, and how long it will take for confidence to return.
As US debt is rising, a shift to crypto reserves may redefine global finance
Bitcoin’s slide also mirrored broader weakness in risk-sensitive assets, particularly in the technology sector. The crypto market has become increasingly correlated with high-growth tech stocks, especially as institutional investors integrate digital assets into multi-asset portfolios.
Citadel Securities’ pivot toward cryptocurrency is notable given the firm’s previously skeptical stance. This move reflects a shift that signals growing institutional confidence in crypto markets.
The SEC met with CCI, Saylor, and Robinhood to discuss crypto regulations as it drops probes into OpenSea and Coinbase
