While the traditional market does not wake up, the Crypto Times come give Bitcoin a good day. Check out a brief summary of what could affect the market this Monday (6).
Bitcoin (BTC) starts the week negative, and below $23,000. The weekend was of little volatility for bitcoin, with Saturday up 5% and Sunday down 3.4%.
Markets Await Powell’s Speech
Investors are paying attention to the Fed chairman’s speech, Jerome Powelltomorrow, if the speech comes more “hawkish”, favorable to an increase in interest rates, risk aversion may decrease, and affect cryptocurrencies as a result.
Ether (ETH) is also seeing declines and is priced at $1,630. The market cap drops almost $2 and is priced at $1.06 trillion.
André Franco, chief analyst at Mercado Bitcoin, believes that it could be a lateralization zone for later definition of clearer movement. Ether saw even less wobble over the weekend, rising 1% on Saturday and falling 1% on Sunday.
“Today the second crypto asset on the market starts the day at zero to zero. In on-chain data we saw an additional 11,000 bitcoins pass into the hands of long-term investors over the weekend. On Ethereum we had over 50k new ETH being locked into the Beacon Chain,” he says.
Market optimism retreats two points, but remains in the bullish zone at 56 out of 100.
Source: Moneytimes
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