BTC Buyers have once again developed an upward movement from the upper border of the descending trend channel, without dropping to the support level of $44,300, as was being expected. On the six-hour timeframe, the upward impulse was stopped by the dynamic resistance level, which is the 21 EMA 6 H exponential moving average, which led to a rapid drawdown of the instrument to the $44,300 price level. judging by the market structure, the overall picture is still bearish, in order to change the situation the bulls need to force the resistance level around $46,000 with the next consolidation above it, which will allow to storm the 0.5 Fibonacci retracement level ($47,063).
It concerns signs that allow to assess the transition of the initiative to buyers in the medium term. In the short term, it is likely to see upward momentum from current levels to the $45,200 area, followed by a retest of the trading channel's upper border in the dynamic support area - 300 EMA 6H at $43,900. about $42,800.
️ETH The decline in the value of the asset in the pair to #BTC by 1.9% over the last day. Ether is trading above the $3200 support level, with immediate resistance around $3525.
️Two pension funds from the US state of Virginia have submitted applications to regulators for approval of investments in mainstream fund Parataxis Capital Management, which directly purchased cryptocurrency 1.
The Fairfax City Police Officer Retirement Fund and Civil Service Retirement Fund first became acquainted with the cryptocurrency space two years ago, investing in specialized venture funds. Now they plan to make far more direct investments by investing $50 million in flagship fund Parataxis Capital Management LLC, which buys various digital tokens and cryptocurrencies.
In total, the two funds manage about $7.15 billion. They have invested using the Morgan Creek Asset Management fund on a number of occasions, and this year they also started working with crypto-capital firm Blockchain Capital.
Parataxis Capital Management was founded in 2019 by former portfolio managers Galaxy Digital and LedgerPrime. Currently, Parataxis manages $55 million. The company's management announced that negotiations are ongoing with several other pension funds.
It should be noted that the United States firmly holds the world leadership in terms of the volume of pension funds assets, the total amount of funds held in an account of a local organization is about $ 20 trillion in 2020. At the same time, many pension funds and trusts are studying the issue of cryptocurrencies. , but so far a small percentage are being decided to make such investments due to regulatory uncertainty and the early phase of establishing a new asset class. However, if, in an optimistic scenario, 10% of America's retirement assets went into the digital asset industry, the total cryptocurrency market cap would double.
️Alts: News of Morpheus Labs (#MITX) collaboration with Huawei Cloud led to a 45% increase in the price of #MITX (against the dollar).
The announcement of a successful code audit by PeckShield and the imminent launch of an option by the AntiMatter platform (#MATTER) caused #MATTER to grow by 40% (against the dollar).
The listing of the MakiSwap (#MAKI) project on the MEXC exchange increased the value of #MAKI by 25% (against the dollar).
️The total value of digital assets fell by 3.25% in the last 24 hours, the dominance of major cryptocurrencies increased by 0.7%. The #BTC price movement of the last few days shows that sometimes the best trading strategy is to exit the market.
That is a glimpse of the daily cryptocurrency market, hopefully this article can help you to find information.