For the ninth week in a row, the review has been falling in price against currencies, in the last thirteen days the BTC/USDt pair has kept moving in a sideways trend between $28,000–$31,500. Since the beginning of the loss, losses of nearly 4.30%. The price is trading at $29,020, near the lower boundary of the boundary.
In recent days, a correlation has been recorded between financial indices and cryptocurrencies. The S&P500 closed the week up 6.58% at 4158, while crypto investors began to sell altcoins, fearing a constant market crash. The course of inspection was fixed below 30 thousand. All the proposed renewal ended in failure. Information pressure about the upcoming collapse entails the loss of the market with losses.
In the week from May 23 to May 28, altcoins sank very strongly. The share of visits increased from 44.7% to 46.0%. Market capitalization amounted to $87 billion, up to $1.198 trillion.
If bitcoin is received, Solana (SOL), Avalanche (AVAX), Polkadot (DOT) and NEAR Protocol (NEAR) smart contract response emissions could lose more than 30% of their value from current prices.
The technical picture of the review still looks unstable, despite the resumption of growth in the S&P500 and Nasdaq financial indices, and there is also a correction in the dollar index. So, perhaps, the external background for the crypto market has changed for the better.
At the same time, investors are intimidated - they refuse to buy back cheaper coins. It can be seen that now there are extremely negative moods on the part of cryptocurrency holders. The fear index is 13 points. A minimum of 8 was recorded on 17 May. In theory, the peak of fear has been passed. During the last weeks of the red weeks, everyone should get used to the bear market.
Exactly the same sentiments we saw on other bottoms. It is worth recalling that the reader appreciates when the fear index rises to the 8-10 zone. According to my calculations, the growth phase begins in the period May 30 - June 6. To temporarily close the window for growth, the buyer needs to close the week above $31,700. If the price fixes below the $28,000 level, then it could easily drop to $20,000 or even $13,000. If they do not run to the market, then we will not sink much. U-turns are acceptable when they are least expected.
One of the wave markings of the Bitcoin chart allows us to hope that the bulls have a scenario called "Wave C" in their assets.
On the other hand, with Ethereum on almost the same chart, economist Peter Schiff is looking for Ethereum at $1,000 due to the “double top”, head-and-shoulders pattern and “yellow support breakdown”
https://twitter.com/PeterSchiff/status/1530146641528995841
- PeterSchiff
A bit of crypto humor
The guy deployed a main network called Asshole
For 0.05 eth, anyone can mint an NFT explaining why someone is an asshole (although the metadata can be anything)
NFT goes straight to the "asshole" wallet and the only way to get rid of it is to pay 32 eth to burn it.
The idea with STEPN sneakers got the expected continuation!
Meet the SEXN project (with the concept of Sex-To-Earn, i.e. have sex to earn money)
Everything is serious: there is a whitepaper, SOT (Sex Orgasm Token) and SST (Sexual Stamina Token) tokens, and other attributes of a real crypto startup
