Bitcoin rate climbed above the inclined resistance of $ 33.5 thousand, but investors are awaiting the FATF report

On Saturday-Sunday, Bitcoin climbed higherinclined resistance near $33,500 and in the coming hours is capable of breaking through the high of June 29 at $36,600. After this, the path to $39,000 will open up. the upper boundary of the consolidation that has been stretching since mid-May.

The American labor market has had no effectThe bombshell on Wall Street and indirectly on the cryptocurrency market rather caused a sigh of relief. Similar sentiments may prevail within the Federal Reserve System. Its representatives on Friday were able to verify that they still havethere is time to pull off the rollback of quantitative easing, allowing the government to pay post-average costs at a low cost of borrowing.

The stock market has reached historical highs, whichmade it possible to remove the risk of resuming sales in digital assets, which still continue to “digest” the situation. repression by Chinese authorities and increased regulation by their US counterparts.

In a CNBC survey about the prospects for the first cryptocurrencyThe opinions of managers were divided almost equally between pessimists and optimists, which is a reflection of the current balance of power, after the May correction. 44% expect a rate below $30,000 by the end of the year, a quarter – $40,000, which is not far from current values; the same amount – $50,000, and only 6% – approaching April records. The difference may be due to different assessments of the timing of the removal of the current regulatory uncertainty, while it seems that everyone interviewed by the TV channel believes in the restoration of the growing trend. 

It is obvious that the pendulum has now swung to the sidebuyers after repeated “rescue” $30 000. (We must not forget about the “assault” on Binance. The market is gradually reducing the degree of perception of the consequences of negative events earlier. Glassnode recorded a sharp increase in the accumulation of bitcoins in wallets with balances from 1000 to 10,000 BTC.

There is good news on Ethereum too.In addition to outpacing the network of the first cryptocurrency in terms of the number of active addresses, the amount of ETH on exchange balances has dropped to its lowest level since November 2018. You can also recall the growth prospects of the staking industry in the JPMorgan report (income by 2025 will increase from $9 billion to $40 billion), towards which the project is moving by leaps and bounds – 5.2% of the issue is already blocked in the deposit contract. As a result, the share of Ethereum in the total capitalization of the crypto market increased to 18.7%, the maximum since June 10. But at the expense of other coins, not Bitcoin. The latter's dominance index continues to fluctuate around 44%. We are waiting for the FATF report on crypto on Monday. An important event for the industry.

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