Bitcoin on Friday renewed its weekly high, but remained within the boundaries of the previous day. The effect of Elon Musk's statements at The B Word conference has exhausted itself.
After a 10% take-off, it may take a couple of days forfurther consolidation and finalization of the reversal structure. It is being implemented in the absence of negative signals from the upcoming Fed meeting on July 28, as well as from the hearings of the US Senate Banking Committee on cryptocurrencies (July 27), although this may happen earlier. But before that, a rollback to $ 31,500 - 31,800 suggests itself, dictated exclusively by technology.
Bullish formed on daily signalsdivergence in RSI, but a pullback is already the removal of short-term overbought and a set of dynamism for further growth. Near-term futures went into contango, which indicates the restoration of optimism in the market.
The increase in the number of cases of the delta strain COVID-19allows us to expect that the Fed will postpone the normalization of monetary policy, the prospects for the start of which have begun to unnerve, including participants in the cryptocurrency market. As for legislators, the market has so far focused on Musk & Co. This is evidenced by yesterday's neutral reaction to the "run over" of regulators on the landing platform BlockFi, which was accused of selling unregistered securities.
They gave this status to crypto-savingaccounts. Because of this, the firm has postponed its IPO for 12-18 months. Earlier, the head of the SEC, Gary Gensler, was unambiguously harsh about the tokens in which the shares are collateralized. Binance will remove them from the listing. But this is an increase in regulatory certainty, building a framework. The fact that the exchange is considering the possibility of holding an IPO of the American division in the future (this was announced by CEO Changpeng Zhao), despite the ambiguous news background regarding the crypto exchange, cannot but be perceived as a positive signal.
In general, a piggy bank of positive newsreplenished. Jack Dorsey after The In Word announced the integration of Bitcoin on Twitter. After periodic promises about the "native currency of the Internet" it is time for him to implement his plans in practice and expand the audience of cryptocurrency users.
A recent report from Goldman Sachs showed that 15%family foundations have already invested in digital assets, 45% are considering this option. The growth in the number of bitcoin investors was also indicated by a public opinion report from Gallup. Regulators press, but the caravan moves on. The trajectory is observed, as was the case with Internet users in the first years after its appearance.</p>