Wall Street Expiration Moderated Cryptocurrency Ambitions

US stock market obstructed unwindingwaves of optimism on the crypto market on Friday. The expiration and closing of the indices indicated that most investors are aware of the seasonal weak September and are afraid of the Fed meeting.

On Wednesday, members of the U.S. central bank are expected to clarify the trajectory of tapering stimulus and outlineSuch sentiment became a pretext for profit-taking on digital assets after reaching the highs after the correction on September 7.One would expect thatconsolidation continued over the next three daysright up to the Fed's verdict, if not for a new round of risk aversion on Monday morning, provoked by heightened fears over the real estate sector in China, where one of the largest developers Evergrande is in distress (the company defaulted on its obligations).

Therefore, the negativity may persist until the meeting of the US Central Bank, where its representatives mayremind that the "printing press" is still operating, and adjustments maywill happen only in November-December (in September, investors will simply be prepared for this).

This week, on Friday, the expiration of options in the cryptocurrency market will take place.For Bitcoin, the highest open interest was formed by calls at $49,000, for puts - at $48,000.This suggests a return to Friday's highs, which has become less likely given the strait in the morning.

On Ethereum, the picture is less rosy, but itmeans stabilization in the range of $ 3400-3500, which is above the average border of the last week's range. On Friday, coins worth over $ 1.2 billion were withdrawn from crypto exchanges to cold wallets, according to IntoTheBlock. More than half (197 thousand ETH) fell on Coinbase, this has already been recorded by CryptoQuant analysts.

Ранее их коллеги из Glassnode (обратили внимание, that bitcoin exchange balances have dropped to lows since February 2018. Major players are waiting for a denouement at the September Fed meeting. Their behavior can speak of confidence in a favorable outcome.

In the meantime, negative sentiment prevails in the market.Solana, where the token's dynamics continue to be affected by the recent 20-hour network outage.On Thursday, a representative of Huobi "made friends", who saw deep flaws in the design of the blockchain, which caused an excessive load on the RAM of nodes.

Continues to outperform the Avalanche market afterdisclosing information on raising $ 230 million for the development of the DeFi ecosystem and corporate applications. Also, Cosmos stands out with positive dynamics, the developers of which will soon deploy a bridge with Ethereum. Thus, the project will become another player who will declare their ambitions in DeFi.

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