Traders are reminded of a major development in the cryptocurrency world. Coinbase CEO Brian Armstrong expressed concerns about the possible elimination of cryptocurrency staking for retail clients by the SEC.
Касније, објављено је that Kraken, one of the longest-running crypto exchanges, reached a $30 million settlement with the SEC on the issue.
In recent hours, information has also emerged regarding regulators’ persecution of large centralized stablecoin issuers.
These events come shortly after the White House’s statement regarding its concerns about cryptocurrencies. Ironic situation when considering that several US regulators in recent years have received funding from the FTX exchange, and now find the future of cryptocurrencies in their hands.
Funding that after the exchange goes bankrupt could be part of the bankruptcy recovery action and be returned.
Scrolling down the Top 30 list, only one green sign stands out.
It is that of Полигон (МАТИЦ), which from last Friday’s levels is registering a rise that exceeds 6%. The token, which plays an important role in the Polygon platform ecosystem, is on its way to ending its 6th consecutive upward week. After about 10 months, the MATIC digital token recovers $1.3, gaining more than 70% since the beginning of the year.
Анализа Битцоин (БТЦ)
After sustained gains in January, Битцоин (БТЦ) is set to close the week down for the 2nd consecutive time, with prices hovering around $21,800.
Should these levels hold until Sunday’s close, there would be a decline from the $22,900 with which the week began.
Scenario that should not surprise readers of these pages who follow the cryptocurrency market. As hypothesized in my last update published on Tuesday, an imminent close of the monthly cycle, expected between the end of this week and the beginning of next week, was being reported, which would be characterized by a continuation of the bearish trend.
The cyclical structure is taking shape confirming a final phase of a major cycle, such as the monthly cycle, in which prices are subject to downturns.
However, the presence of an ongoing monthly cycle and its conclusion could be an important factor to consider when analyzing future market trends.
Technically, it is important that any continuation of the descent does not push prices too far down and in any case below $20,600. This level coincides with the last valid support built in mid-January during the last bullish run.
Ethereum (ETH) performance
The move backwards brings Етереум (ЕТХ) prices back to test the crucial $1,520 USD support. A level that has been an opportunity for a rebound several times since mid-January.
Rebounds that have been unsupported by new buying that has so far failed to confirm momentum beyond the $1,620 resistance, previous to the November highs.
Over the weekend, it is important for ETH to confirm the holding of current support. A breakout of $1,500 could result in the stimulation of bearish speculation that would find space for a descent down to the $1,420 USD area, caused by the lack of validly built supports during the last ascent in January.
In the coming days or weeks, only an overtaking of $1,650 accompanied by volumes would create the conditions for a new bullish extension with the next target in the $1,750 USD area.
Source: https://en.cryptonomist.ch/2023/02/10/bitcoin-ethereum-market-analysis/