The value of the whole cryptocurrency market went down by another 1.6% overnight, reaching $1.137 trillion. In the morning, it briefly went down to $1.113 trillion, which is the lowest it’s been in almost two months.
Bitcoin went down by 1.7%, Ethereum went down by 1.2%, and other important cryptocurrencies went down by different amounts, from 0.8% (Cardano) to 7% (Bitcoin Cash).
On Thursday morning, Bitcoin went down to $28,300 in light trading but then stayed around $28,600. The drop below $28,800 showed that the bears had more control for now. The next important levels where the price might find support are around $28,000 and then around $27,200. This is where the 200-day moving average and the support from last November are.
Ethereum’s price went back down under $1,800 and checked its 200-day moving average. In March and June, it went up again from this level. But because things are not looking good in the world’s markets and government bond yields are going up, there’s a bigger chance that the price might fall back to around $1,630 like before.
Crypto News in Short Wording
The new SEI crypto token had more than $1.6 billion in trading volume overnight. It did better in trading than big cryptos like XRP, BNB, and Dogecoin (DOGE). The SEI started its Sei Network blockchain project on Tuesday. The people making it say it’s a network for fast trading with lots of transactions.
One of the co-founders of Tron, Justin Sun, said he’s a “Bitcoin supporter” and has over 100,000 BTC.
The FBI took $1.7 million in different digital money between March and May 2023, says a report.
Coinbase Exchange got a licence from the CFTC. This lets them offer crypto-based futures trading to some customers in the US.
People noticed that 1,005 BTC moved from a wallet that hasn’t been used for 13 years. Some in the crypto community even thought Satoshi Nakamoto had moved the coins.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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