On Friday, the BTC is consolidating at $21,006.
Yesterday’s trading session was the most successful for the BTC lately. The major cryptocurrency added 5.6% following the US indices and securities growth. There is a correlation between S&P 500/NASDAQ and the BTC, which is quite clearly seen right now.
From the technical point of view, the focus is now switching to $21,900. If bulls break this level and fix above it, the next target will be at $22,900. In theory, after attacking $22,000, the asset may head towards $24,000. The closest meaningful support is at $19,700.
So, the key factor for making any decisions related to the crypto market is the dynamics of American indices. It is noteworthy that the fundamental background hasn’t offered any clear signals for a long time. Any significant BTC-related news is about a year away, the ETH is still struggling with the Ethereum 2.0 network, meme coins are no longer as popular as they were and there is nothing really topical to replace them.
In the last 24 hours, the Top 10 coins have demonstrated inspiring results. The best of them are SOL (+7.71%) and BNB (+6.89%). Also noteworthy is ETH (+5.69%). DOGE (+2.33%) and ADA (+3.96%) were a bit weaker.
Ava Labs launched a cross-chain bridge to connect BTC and Avalanche. Users of the networks now can transfer cryptos without any third parties. The bridge is based on Intel SGX, a new feature that supports cross-chain transactions.
A Portuguese footballing legend Cristiano Ronaldo and Binance announced an exclusive, multi-year NFT partnership. It is assumed that through cooperation with Ronaldo the company will be able to more effectively introduce the Web3 ecosystem to users and attract attention to NFT campaigns.
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.