The feeling of the market is still cautious, with investors attentive to macroeconomic changes and regulation in the United States, factors that continue to influence the price of Bitcoin.
Bitcoin It has crossed a week of high volatility, with its price oscillating around $ 80,000. The leading cryptocurrency suffered an abrupt fall of 15 %, drilling the key level of support of $ 80,000 on Tuesday. This setback dragged with him about 660,000 million dollars in total capitalization of the crypto market. However, despite the blow, Bitcoin demonstrated his strength by recovering $ 84,000 before facing bearish pressure again.
From the technical point of view, the indicators have mixed signals. He Relative Force Index (RSI) It is maintained in a neutral zone, without indicating overcompra or overall conditions. For their part, mobile averages suggest the presence of support levels that could stop future falls. Despite this, The general feeling of the market is still cautious, with investors attentive to macroeconomic changes and regulation in the United States, factors that continue to influence the price.
Beyond the movements in the market, the attention was also set on the effects after the Crypto White House Summitheld on March 7. This event, which was attended by the key leaders of the industry, generated great expectations regarding government support towards digital assets. However, The lack of concrete measures by regulators left investors in a sea of uncertainty, feeding the selling pressure in the market.
Despite this lack of definitions, there were significant advances. The Currency Comptroller Office (Occ) issued new guidelines that allow banks to guard cryptocurrencies, which many interpreted as an opening signal towards a more favorable regulatory environment for the sector. Despite the prudence with which the market received the news, Some analysts consider that this could mark a turning point in the government’s position towards cryptocurrencies.
With Bitcoin oscillating in the $ 80,000 area, the next movements will depend on both technical factors and new macroeconomic decisions. Despite the regulatory uncertainty, the recent turning of the Occo suggests that the dialogue between the crypto ecosystem and the regulators could become more fluid. Volatility will continue to be a constant in this market, and investors must remain attentive to the next events.
Chief Product Officer of Bingx.
Source: Ambito
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