No much to add to last week’s comments as Ethereum looks for support in the 40 day cycle trough zone and at the January uptrend support line.
Interestingly crypto is going up while global equity markets slump, typically they are tightly coupled. The preferred view remains for an upside reversal in both Ethereum and Bitcoin. The key level to beat here is US$3,000. We need price to pass up through and find support at this level.
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
