Bitcoin is in a state of accumulation!
Here is the technical analysis of Bitcoin and Ethereum, which tried to recover after two weeks that were very active for the crypto money markets.
Hong Kong, recently announced that it wants to be a center in the crypto field, it was stated that the regulation to be made after the FTX crisis may contain harsh rules. US Treasury Secretary Janet Yellen was also among those who did not remain silent about the collapse of the FTX stock market. Yellen, in her written statement, said “We have warned many times before”, saying “it is a big cryptocurrency exchange” without pronouncing the name of the FTX exchange. The Bahamas Securities Commission has announced that all digital assets of FTX Digital Markets have been confiscated by transferring them to a commission-owned digital wallet.
Bitcoin is in a state of accumulation!
US stock markets closed negatively yesterday, with applications for unemployment benefits that fell below expectations, the tight course in the labor market, and the signals that the Fed members' high interest rate environment will be more permanent for a long time. Consumer Price Index (CPI) data in the euro area was 10.6% in October, reaching an all-time high. Looking at the sub-items, the determinant factor in inflation was the increase in energy prices. Adjusted for the temporary effects of inflation, core inflation, on the other hand, was at the peak level of 5%, in line with expectations. High inflation in the UK and the Eurozone indicates that interest rate policies may continue harshly. The dollar index (DXY) continues its horizontal negative course at 106.4 in the morning. The cryptocurrency market has been moving sideways for 4 days. Bitcoin, whose correlation with the S&P 500 and Nasdaq fell to a one-year low, rose 0.48% to over $16700 levels, while Ethereum outperformed Bitcoin and is priced above $1200 with an increase of 1.43%.
