Bitcoin is
clinging to the $21,000 level, having changed little in the past 24 hours,
while Ethereum is adding 1.7% overnight to $1450. Prices of the top altcoins
range from -0.6% (Cardano) to +4.2% (BNB).
The total
capitalisation of the crypto market, according to CoinMarketCap, rose 0.85% to
$978bn overnight.
Bitcoin came
under increased pressure on Tuesday, but the sell-off stalled during the New
York trading session as it was supported by buying on declines below 21,000.
Markets
await the US Federal Reserve's rate decision to be announced on Wednesday and
are set to see the Fed's another 75 points hike, but futures are pricing a 20%
chance of a 100-points hike. Some speculators are rushing to bet that we will
see a relaxation rally when the most pessimistic expectations do not come true.
According to
CoinShares, capital inflows into crypto funds last week amounted to $30M, of
which $19M for BTC. At the same time, investments in funds, which allow opening
shorts on bitcoin, dropped sharply (to $0.6 mln). The previous week's total
capital inflows sharply revised from $12M to $343M.
The number
of ransomware attacks fell by 23% amid the decline in the crypto market,
SonicWall noted.
The US
Commodity Futures Trading Commission (CFTC) will create a new Office of
Technology Innovation to regulate the cryptocurrency industry.
According to
Bloomberg, the US Securities and Exchange Commission is conducting a full-scale
investigation into token listings on Coinbase that could be treated as
securities.
This article was written by FxPro FXPro at www.forexlive.com.
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