Market picture
The crypto market’s capitalisation fell by 1.1% over the
past day to 1.17 trillion, which resembles profit-taking after 50% of market
growth in the first quarter of this year.
Bitcoin underwent an even more active sell-off the night
before, losing about 2% in 24 hours, but holding near $ 28K, bringing the
result of the first quarter to 70%. A full correction from these levels
involves a pullback to $ 26K or even $ 25K.
The fact that the stock market has maintained a positive
bias over the past day, and the dollar has been declining, additionally
supports the idea of a local shake-up of crypto portfolios, but not the return
of pessimism. If this happens, anxiety will kick in when the decline is under $
25K.
News feed
The US Securities and Exchange Commission (SEC) has
charged the cryptocurrency platform Beaxy with brokerage and clearing
activities without proper registration.
Gensler called on the government to allocate $2.4 billion
to the SEC to prosecute unregistered crypto companies more effectively. He
says, “the cryptocurrency market is the Wild West, where people put
hard-earned money at risk by investing it in high-risk assets.”
Senator from the US Democratic Party, Elizabeth Warren,
called for an “anti-crypto army”. In her future election campaign,
she plans to pay special attention to the problems of cryptocurrency companies
and the formation of a broad coalition of opponents of crypto assets.
Part of the digital division of the Stuttgart Stock
Exchange (Boerse Stuttgart), Blocknox has received a cryptocurrency custodian
license from the German Federal Financial Supervisory Authority (BaFin).
This article was written by FxPro’s Senior Market Analyst Alex
Kuptsikevich.