Cryptocurrencies gave red signal with news from USA
The news that the US government will resume selling Bitcoin on Friday caused the cryptocurrency market to start April with a red candle. In the market where there are pullbacks, Bitcoin finds buyers at $ 27900 and Ethereum at $ 1790 in the first business hours of the new week.
After the Silk Road incident in 2013, news came that the US Government continued to sell 144,000 Bitcoins, which were seized. The US Government, which sold 9,800 Bitcoins on March 14, plans to sell another 41,500 Bitcoins in four pieces, causing selling pressure in cryptos. Tron founder Justin Sun, on the other hand, announced that he would offer to buy Bitcoins at a 10% discount in order to minimize the potential impact on the market, which did not ease the selling pressure.
Cryptocurrencies have started the new week on a bad note
In addition, yesterday's announcement that OPEC+ countries would cut oil production increased the selling pressure in crypto markets, with the expectation that it would put pressure on US inflation and affect the FED's interest rate decision.
When the crypto market is examined, this morning, Bitcoin shows activity at $ 27900, while Ethereum finds buyers at $ 1790. There is a negative trend in altcoins. The total value of the crypto market is moving around $1.13 trillion with the pullbacks. The dominance of Bitcoin is 47.6%, while the dominance of Ethereum is at 19%.
Although there is no important data on the macro agenda today, data from the USA will be important this week. ADP non-farm employment change data on Wednesday, applications for unemployment benefits on Thursday, and non-farm employment and unemployment rate on Friday will be on our radar. In addition, news feeds on the internal dynamics of the crypto market are expected to continue to dominate.
