August 8, 2022

Cryptocurrency market cheered up after large purchase of bitcoins by Alameda Research

Cryptocurrency market cheered up after large purchase of bitcoins by Alameda Research

Elon Musk, as the master of thoughts oncryptocurrency market, a competitor has appeared. The head of the FTX crypto derivatives exchange, Sam Bankman-Fried, is equally ambitious that he did not rule out buying Goldman Sachs in the future. The belief that this is possibly reinforcing the investment round that took place this week, as a result of which the firm was valued at $ 18 billion. Earlier, Bankman-Fried, along with the head of Coinbase Brian Armstrong, was named the richest people in the industry by Forbes magazine (apart from Satoshi Nakamoto, if he still alive). There is money.

Wednesday supported by the CEO FTX trading firm Alameda Research"Bribed" bitcoins after dropping to $ 30,000. The 6 percent rise to the current $ 31,500 began at 7:00 Moscow time, when it was just noon in Hong Kong, where the company is based.

Alameda Research Chief Trader Sam Trabucchiexplained the decision by the completion of the FUD wave (the repression in China exhausted itself, the unblocking of the Grayscale bitcoin trust did not justify the prevailing fears), weak liquidations in the derivatives market (there is no congestion in the longs, unlike April-May, the market is bearish), and the Wall's recovery -street, where expectations worked out that next week the Fed at its meeting on Wednesday will not "gesture" in the wording regarding the normalization of monetary policy amid the spread of the delta strain.

The moment to buy really turned out to be a good one. Santiment's Social Media Fear and Community Sentiment Index has hit another bottom.

The Word conference started on Wednesday, atwhich will be performed by Musk, Dorsey, Katie Wood. The impact in terms of statements can be as loud as after the May event in Miami. Then the market seized on the announcement of the President of El Salvador on the recognition of bitcoin in this country as a means of payment (a fundamentally dubious story, but good in the mainstream of PR and to "warm up" retail players). Today the head of MicroStrategy Michael Sailor presented his cheers for BTC. Although this is largely due to the preparation of the submission of reports for the second quarter and the need to explain to shareholders for the recent purchases of bitcoins.

Earlier we noted that the minimum ofJune 22 ($ 28,800), the first cryptocurrency is able to "surprise" those who have taken the "short" in recent days. Supporters of technical analysis can see the breakdown of the lower edge of the descending triangle, but what prevents it from being made false and making the corrective figure more ornate in the form of a flat? And so it happened.

Refunds above $ 30,000 complicated things and returned the oddsfor the implementation of the final approach upwards with a repetition of at least the maximum from June 29 ($ 36,600). The Fed may just wait until September with the beginning of specifics in the discussion of the way out of stimuli. In other words, there are chances for a more rosy end of the summer. Further, most likely, inevitably down to $ 20,000. Over the weekend, major players hedged longs with put options with strikes of $ 20,000 and $ 22,000. The ratio of put / call options indicates positive sentiment only with maturities at the end of the year and beyond.