Within a gray day for Wall Street, at least until the time of writing, the day for Bitcoin and cryptocurrencies is instead red, as far as we are from the discharges seen during the previous week. Bitcoin also loses $65,000, with the sector alt which is much worse.
An afternoon of ordinary concern for the markets, which despite having had positive reactions yesterday to the quarterly reports Teslawith the group led by Elon Musk recording worse-than-expected financial data.
A situation that we will continue to monitor on ours too Telegram channel official, and which will be the subject of in-depth analysis in this special report of ours. There are few concerns about fundamentals for the moment, for what would appear to be a move on values that the crypto world should largely consider normal.
Bitcoin and crypto with Wall Street’s pain
Statistically the last few weeks have not been very positive for Bitcoin And crypto during the opening of the US markets. US markets which, in particular on the stock market, have been affected by significant tensions on the geopolitical front and also on the more strictly financial front, with the pivot of the Fed, i.e. the interest cut, which appears increasingly distant.
They are overall nervous sessions, with all the main indices of the US stock markets suffering today, although naturally to a lesser extent than the cryptocurrency and Bitcoin markets.
Bitcoin lost, not without a fight, the $65,000 threshold when we entrust this analysis to digital prints. Almost all currencies in the alt sector performed worse, albeit to a relatively limited extent.
The corrections of those who had done better over the past few days are striking, such as Gnosis and SEI. Suffering also for Worldcoin, after the news regarding corrections to the project’s monetary policy, which were not received very well by the markets. Bad, actually very bad SIXwhich had also been one of the locomotives of the sector in recent days.
- Ordinary administration?
In the opinion of the writer, yes. There is no reason to consider the fundamentals of a few days ago invalidated, and today’s session will have to be set aside, unless there are significant prolonged declines during today and tomorrow, as business as usual.
- There is a lot of good news
There is good news to take into account, although perhaps less important than people have considered it social. Above all, the start-up one of Bitcoin and Ethereum ETF trading in Hong Kongwhich although it may not have much impact on the market in terms of volumes, will do so in terms of prestige.
Markets still sluggish: the data
After the halving, volumes on the exchanges, as clarified by the data collected by The Block, are decreasing. A sign of hours of negotiations that are anything but frenetic and which will probably not allow the market to make a clear decision.
Something that was perhaps legitimate to expect after a March that was certainly over the top and with April that will certainly be remembered as the month of halving, rather than as the month of the markets, with Bitcoin in a channel rather broad, but still… canalised.
For the rest, at least for now, there are no reasons for excessive concern, although both the geopolitical and monetary situations will have to continue to be monitored, with Fed declarations that could stimulate, upwards or downwards, markets that appear to be somewhere between bored and nervous.
