Bitcoin on Thursday, August 4, at the end of the day, the BTC/USDt pair fell by 0.86% to $22,622. Buyers failed to protect the level of 22650 (support formed on August 2-3). The price dropped to 22400. The US stock market made the buyers nervous. The S&P500 and Nasdaq indexes showed multidirectional dynamics. The Nasdaq index went up against the backdrop of growth in technology stocks. S&P500 closed slightly lower.
Yesterday, the head of the Federal Reserve Bank of Cleveland, Loretta Mester, spoke and confirmed the determination of the US Federal Reserve to suppress inflation. Investors are now waiting for the monthly US labor market report to get an idea of the pace of interest rate hikes by the Federal Reserve. The data is important to the US Federal Reserve and could influence monetary policy. The challenge for the Fed is to slow record inflation without triggering a recession.
In the morning, the price recovered to $23,432 with a small lag from the growth of stock indices. Futures on the S&P500 is trading in positive territory, but there is no active growth in it. An increase in volatility on all exchanges is expected after 15:30 GMT+3.
With the morning rebound, the situation on the daily TF is still on the side of the buyers. If the price closes above $23,300, buyers will cover four days of decline. But to continue growing, we need to fix above $23,650.
Crypto world news
Investment giant BlackRock will provide access to cryptocurrencies to institutional investors through Coinbase Prime.
Coinbase (COIN) shares surged 34% in a moment after the company announced a partnership with BlackRock (BLK) to increase access to the cryptocurrency markets for institutional investors. BlackRock shares rose only 1.2%.
Swiss watchmaker Franck Muller has started accepting BNB to pay for goods. This was written on Twitter by the head of the Binance exchange, Changpeng Zhao.
Binance was sued over Elon Musk's refusal to buy Twitter. In May, the trading platform provided the businessman with $500 million to complete the deal.
The Indian crypto exchange WazirX, owned by Binance, was suspected of laundering $ 350 million. Intelligence suspects the exchange of laundering through unknown wallets.
Daily review
- Capitalization of the crypto market: $1.081 trillion (+$3 billion);
- Dominance: BTC - 40.8%, ETH - 18.6%;
- Index of fear and greed: 31 (extreme fear) against 30 the day before.
Posted Using LeoFinance Beta