Analysts from CoinShares claim that crypto assets have lost more than 72 million dollars in capital over the last seven days. We’re talking about funds like Grayscale and Proshares that allow institutional investors the opportunity to invest in products relating to cryptocurrency.
Two possible causes of the outflow are:
1→ Investors reduce risks as they fear the fall of BTC after today's Fed decision.
2→ Signs of weakness in demand around the key USD 30k level.
The bulls were unable to break through this psychological barrier in mid-April and they failed to surpass it at the end. So, the current price has returned to mid-March’s area of the supply and demand equilibrium (shown in a green color). A price increase will not bring in new buyers.
The median line (1) in the rising channel is currently supporting the BTCUSD, but the bears can break it if USD 30k does not continue to rally since the start of the year.
This article represents FXOpen Companies’ opinion only, it should not be construed as an offer, solicitation, or recommendation with respect to FXOpen Companies’ products and services or as financial…
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