Market Review of Cryptocurrencies

Market Review of Cryptocurrencies

The growth of the crypto market was interrupted by events in BUSD, which were known to many in the market on Sunday. There is no negativity on the stock and currency markets, only crypto is falling.

BTC now has serious support only at $21,000 and the market can quite easily fall there today. Tomorrow there will be important US statistics, so in the evening investors will tend to lock in profits and there will be a decline in the stock market, which will also contribute to the decline in the market.

ETH support is very far away, the situation is worrying, and it may fall by almost 6%, probably not today, but significant liquidity only appears there.


At 16:00, FRB member Bowman will be speaking and in recent times he has frightened the market, but I don’t think crypto has anything to do with him now, I don’t expect any significant reaction.

In the night from Monday to Tuesday, the name of the new head of the Bank of Japan will be announced. This is a big event for the financial market: high volatility is expected and this will be reflected in crypto, so be careful with transferring positions overnight.

Basic scenario

Yesterday, the alternate scenario described as a “dip closer to night” was triggered. The basic scenario today continues the decline and, according to the alts, there is likely to be a significant drop. So shorting alts today is a good idea.

Alternative scenario

BTC and ETH may be able to hold at current levels. A rebound today is unlikely, and a rebound may only be on tomorrow’s US statistics.

The views expressed in this article are solely those of the author and should not be construed as official statements or representing the views of the company. The author is solely responsible for any errors or omissions in the information provided. The information contained in this article is provided for informational purposes only and is not intended to be investment or professional advice.