Dynamics of coins from the TOP - 10 for the 24 hours:
Crypto world news:
Binance has officially announced that they will support the Terra Network airdrop, the current network will be renamed Terra Classic.
The launch of the new Terra v2 network called Phoenix-1 will take place on May 28 at 09:00 Moscow time.
The Central Bank of the Russian Federation accelerated work on the launch of the digital ruble due to sanctions. The launch of the pilot project of the digital ruble on real transactions and clients was postponed from 2024 to April 2023.
Major cryptocurrencies continue to decline amid the bear market. The share of bitcoin continues to grow. Altokina suffer significant losses. Over the past 7 days, Ethereum has fallen in price by 14.5%.
Bill Miller, billionaire founder and chief investment officer of investment firm Miller Value Partners, said he considers Bitcoin (BTC) “an insurance policy against financial disaster.”
On May 26, at the end of the day, the price fell by 1.15% to $29,201. Investor sentiment remains subdued. Selling coins from the outside is increasing, which can lead to more significant losses. Nearly $417 million worth of long positions were liquidated in the cryptocurrency market in 24 hours. The BTC/USDt pair fell to the level of $28020, from which it rebounded to $29788. The share of bitcoin rose to 46.2%, so the rebound was sharper than the alts. Demand of about 28 thousand rose near the bottom of the flat against the backdrop of a general weakening of the US dollar on forex and rising stock indices.
The dollar strengthened the decline in the global Forex currency market after the publication of US GDP data for the first quarter. The country's GDP fell by 1.5% against a preliminary estimate of 1.4%. According to the forecast, the indicator was expected to improve to minus 1.3%.
Given that altcoins are getting cheaper, ignoring the growth of stock indices, it can be assumed that instead of heat, June frosts are approaching. Since Bitcoin dropped to $28,000, there are still risks of updating the low of $26,700 (May 12) with a subsequent spill below 25,000. If the dollar index continues to correct and the stock market goes positive for the weekend, then crypto investors will have a chance to partially win back losses on Saturday and Sunday.
