The past week on the cryptocurrency market, in particular for Bitcoin, was characterized by high volatility and mixed dynamics. The beginning of the week was marked by a steady growth of the first cryptocurrency, but by the end of the period a correction was observed. Thus, historically, Bitcoin has lost more than 3% since the beginning of the week. On April 8, the BTC/USDT pair rose 3.26% to reach an intraday high of $72,797. By the close of the trading day, the price retreated as traders switched to altcoins, which had a dampening effect on Bitcoin’s growth. In particular, the sharp growth of the ETH/BTC pair contributed to the outpacing growth of Ethereum compared to Bitcoin. The key factors that supported Ethereum were expectations of SEC regulator approval of a spot ETF on Ethereum, as well as the activity of large players who applied to launch such ETFs.
On April 9, a correction occurred. The BTC/USDT pair fell by 3.45%, falling to $69,146. The reason for this could be expectations of the publication of data on the consumer price index in the United States, which ultimately showed an acceleration in annual inflation. The data raised concerns that the Fed could keep interest rates high for longer. The price of Bitcoin initially fell to $68,210, but then recovered above $70,000, indicating continued investor interest. On April 10, the subsequent publication of inflation data caused a surge in volatility, but Bitcoin ultimately closed the day up 2.15%, to $70,631. Investors “digested” the news and focused on the upcoming halving, scheduled for April 19-20.
On April 11, the BTC/USDT pair fell by 0.88%, to $70,006. The market could be pressured by the continued growth of the dollar index and news of a trial between the SEC and the largest decentralized crypto exchange Uniswap. The showdown could have serious consequences for the entire DeFi sector, creating risks for the cryptocurrency market as a whole. However, investors are ignoring this news for now, focusing on the halving. On April 12, on the crypto market, the BTC/USDT pair fell by 4.13%, to $67,116. On Cosmonautics Day, Bitcoin refused to take off and instead fell sharply. During the American session, the price dropped to $65,086. These events in the cryptocurrency market reflected the sentiment of investors who tried to avoid risky assets amid increasing geopolitical tensions. The flight from risky assets and ETFs was driven by fears of escalating conflict in the Middle East. US authorities warned of a possible Iranian attack on Israel, which led to a fall in US stock markets. The situation was aggravated by publications in leading media – The Wall Street Journal, Bloomberg and The New York Times – about Israel’s readiness for a possible attack from Iran. Investors have been spooked by reports that Iran may use nuclear weapons against Israel. As a result, traders rushed en masse to sell stocks, precious metals and cryptocurrencies, leaving for the protective dollar. In addition, more than 50 rockets were fired at Israel from Lebanon, increasing pressure on risky assets. Bitcoin fell without significant volumes to the level of $68 thousand, after which stop losses on long positions began to be triggered, intensifying the fall. As a result, the capitalization of the cryptocurrency market decreased to $2.509 trillion from $2.73
9 trillion. During the day, $126.5 million worth of long positions in BTC were liquidated, and the total amount of liquidations reached $920 million.
Now there is a slight calm in the digital asset market after the price storm at the beginning of the year. The historical maximum for Bitcoin has been taken, now you can take a break. This happens entirely according to market laws – fixation of profits from previously opened purchases. The first wave of correction begins across the entire spectrum of coins. This gives the investor time to price ou
Investors got rid of risky assets – emerging market currencies, stocks and cryptocurrency. Further dynamics depend on the development of the situation in traditional markets and geopolitics. The key event of the crypto market will be halving at the end of the week. I expect growth from Bitcoin. In this situation, also a good alternative to simply storing cryptocurrency or investing in dubious financial projects is investing in a real, growing sector of the economy – the Advanced Waste Recycling (ARRT Token) project. The project itself is still at the stage of the initial sale of tokens to finance further work on promoting real products for a real and fast-growing sector of the economy – recycling waste and obtaining useful products from them. You still have the opportunity to become an investor in the project. Details about the project are on our website https://arrt.pro.
In such cases, those tokens whose price is still slightly inflated (overbought) are also of particular interest, that is, they lag behind the general “digital fleet of assets.” Today we will look at one of the representatives of the laggard brigade called Polkadot (DOT). Polkadot is a technology designed to increase the compatibility of different blockchains, such as Bitcoin and Ethereum, and unite them within a single multi-blockchain. Now Polkadot technology is being integrated into many digital networks and terminals, which also has a positive effect on its future prospects. The development team’s immediate plans include releasing version 2.0 of the protocol, which “will take the level of integration among blockchains to a new level” (according to project representatives). If we take specific figures, this year the cost of DOT has increased by 15% to $9.56. This sounds good until you compare it to other leading crypto assets. The same Bitcoin has already grown by more than 67% since the beginning of the year, that is, DOT lags behind the flagships of the current sprint by more than 4 times. Now the price is in the corrective phase of the bullish trend. The nearest support zones from where you can continue to “play for growth” are: $7.97 and $6.75 – $7.09. The key point for continuing purchases is the presence of a reversal structure near the specified zone – for example, “pattern 123”. Purchasing goals – $7.97, $9.93, $11.58, $13.53 Relevance of the idea: 1-2 months. In this case, it is recommended to partially fix the order when it reaches the first level or transfer it to breakeven. The stop loss is placed on the opposite side of the entry level at a distance allowed within the framework of your money management. It is recommended to follow the classic rule: risk no more than 2-3% per transaction.
ncy market is extremely volatile due to low liquidity, so any turbulence in traditional markets causes sharp price fluctuations on leveraged futures markets. Technically, the BTC price has been trending sideways in the range of $65,086 – $72,797 for the last 30 days. The trend line passes through $62,280. If the flight from risky assets intensifies, a new wave of BTC sales cannot be ruled out in order to break stops on long positions below $60,775. That is, technical and cyclical factors still remain on the side of buyers. Demand for cryptocurrencies remains, which creates the preconditions for a possible renewal of highs by May 6.
