The cryptocurrency market digest (BTC). Overview for 08.02.2023


The BTC has reached 23,204 USD. The pause was not a lengthy one. The so-called fear & greed index confirmed this as well. The index entered the greed field and gives signals that investors are ready to buy. The market absolutely needs to hold above 23,000 USD. If so, it will have a serious chance for reaching 23,500 and 25,000 USD.

Correlation between the BTC at one side and the S&P 500 and Nasdaq indices at the other remains extremely high. Good moods of American investors support digital activity.

By now, the capitalisation of the crypto market has reached 1.086 trillion USD, while it has just seemed that a trillion is so far away. The share of the BTC has shrunk to 41.2%, and the ETH takes up 18.9%.

MicroStrategy will be selling futures on BTC

The MicroStrategy tech company announced it was going to trade futures on the BTC. Previously, the business left aside the idea to loan its own crypto via third-party platforms because of multiple risks. Now the company is considering cooperation with CME Group.

US National Football League decided against partnerships with crypto sponsors

After the story with the FTX exchange, the US NFL decided against being sponsored by crypto sector institutions. For the upcoming LVII Supercup, 1.88 billion USD were collected, but none of the sponsors were connected to the crypto market. The NFL management thinks that there is no trustu to the crypto sector.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.