We would like to give you some good news about activity in the crypto market, but the BTC remains in a range, traders are quite inactive, and no new ideas are on the horizon. The situation is likely to be lame until Wednesday night when an extremely important meeting of the US Federal Reserve system is due.
The Fed is to make the first step on its way to stricter credit and monetary policy, giving the market clearer signals: what to anticipate, when, and what effect it will have. This could calm down the capital market, and, as we know, there is a correlation between NASDAQ and the BTC.
Last week, investors cheered up a bit, when the Ministry of Finance and Janet Yellen personally declared that they had no plans for tough control over the crypto market. Regulations are what the US government cares for, so the crypto world was somewhat worried. And then a miracle happened: the statement was deleted from the website of the Ministry with no comments afterwards. Obviously, this was not a hacker attack.
The tech picture of the BTC is hardly impressive. It remains in the same range of 35,000-45,000 USD. The nearest important support levels are $37,000 and $35,400, while resistance levels are at $45,000 and $46,000, respectively.
The devil is in detail, as usual. Prices for energy carriers remain high due to a supply shortage, and there is nothing to do with it.
This, in turn, spins the inflation spiral in the USA, making recession in the country every week more probable. Market players keep a close eye on this topic because if market indices start falling, the BTC rate will also go down. Hypothetically, the leading cryptocurrency can drop to 30,000 USD and lower. Anyway, expectations change in accordance with the situation itself.
Power in memes
While leading cryptocurrencies are in a flat, all expressed movements remain in meme coins. The Dogecoin rate grew by almost 10% after Elon Musk in his Twitter reminded he owned those coins.
The Dogecoin is number 13 in the rating of the largest cryptocurrencies with a capitalisation of $15.1 billion.
NFF: mistake in sales, and minus million
A token from the Etherrock collection of a user named Dino Dealer as by mistake sold for 444 wei instead of 444 ETH. The market bot that tracks trades performed the order in seconds. 444 wei is less than a cent, so the user will even have to pay for the transaction to be completed in the Ethereum network.
