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The cryptocurrency market has become rather rebellious. Neither Trump’s sudden announcement of the creation of a crypto reserve, nor its rather unexpected signature Thursday, before a meeting planned with cryptographic bosses on Friday, could unequivocally stimulate the market. The cryptography market is 8% above the levels 7 days ago, but is powerfully sold on the upward attempts. Consequently, the previous level of support nearly 3.14 billions of dollars act as resistance.
The news of last week contributes to creating support on Bitcoin decreases, which climbed $ 90,000 on Friday. BTCUSD remains sandwiched between the 50 and 200 days mobile averages. The long time my plays the role of the increase in support, while we see the short as a signal line. The ability to consolidate more than $ 96,000 at the start of next week will point out the end of the correction. But we warn that the increased volatility on news and low liquidity during the weekend could deceive traders.
New context
According to Arkham Intelligence, Bankrupt Exchange MT. Gox transferred 11,834 BTC ($ 1.1 billion) to an unknown portfolio on March 6. This is the first major transaction of the platform since the end of January.
On the eve of the White House Crypto summit, the project DEFI Project World Liberty Financial (WLFI) of the Trump family bought ETH, WBTC and move for $ 21.5 million, notes Nansen experts. The amount of Ethereum held by WLFI increased from 2,200 ETH to more than 7,000 ETH last week. WLFI invested $ 336 million in cryptographic assets.
The attachment blocked 89 Russian Guarantex portfolios for $ 22.8 million in USDT. The platform temporarily interrupted operations and is looking for a solution to the problem.
US President Donald Trump has signed an executive decree on a Bitcoin strategic reserve. It will include cryptocurrency, which the United States already possesses, said David Sacks. We are talking about 200,000 bitcoins worth $ 17 billion, which were confiscated from the attackers.
