#BTC (four-hour timeframe). Bitcoin has fallen below the upper boundary of the ascending channel, and the RSI indicator readings have settled below the value of 50. According to data from the analytical platform CoinGlass , over the last seven days, the most liquidity has accumulated around $52,200. This is followed by levels at $50,600 and $49,800.
Therefore, I first expect an attempt by buyers to bring the asset back above the upper boundary of the formation, with the instrument’s growth to $52,200. After which a reversal of the price movement with a descent to the trading zone of $49,500 — $49,800 is likely, where the level of dynamic support in the form of the exponential moving average EMA 100 4H lies. From here, I expect a resumption of Bitcoin’s growth with the renewal of the annual maximum.
▫️#ETH. Ethereum’s repeated attempt to consolidate above the $3,000 trading level was not successful. In the near term, a test of the price level at $2,890 is expected. A breach of this mark will direct the asset to $2,800.
▫️According to Bloomberg, the venture fund Andreessen Horowitz invested $100 million in the restaking protocol, EigenLayer.
The founder of EigenLayer noted that Andreessen Horowitz became the sole investor in the funding round. He also declined to disclose the company’s valuation after raising investments. The fund’s general partner emphasized the importance of the restaking protocol in the crypto industry due to the possibility of more efficient capital use.
Interestingly, the total volume of locked assets (TVL) in EigenLayer reached the mark of $7.8 billion (2 (https://defillama.com/protocol/eigenlayer)). Thus, since the beginning of the year, this indicator has increased almost 8 times. The influx of funds occurred after the lifting of the restriction on the volume of assets in restaking to 200,000 #ETH for each pool.
I think that the investments from Andreessen Horowitz indicate a high evaluation of the potential of restaking protocols by major investors. They point to significant interest in the development of this area of the crypto industry and the possibilities for more efficient capital use through such protocols. The fact that TVL of the platform reached a significant mark of $7.8 billion also indicates wide recognition and use of the protocol. I believe that in the future, we can expect an increase in the number and variety of restaking protocols, as well as the improvement of their functionality.
▫️Alts: against the backdrop of Openfabric AI (#OFN)’s integration with the Web3-identification platform Root Protocol, the cost of #OFN increased by 45% (to #USDT).
The announcement of Binance exchange supporting the swap of native PlayDapp tokens — #PLA to #PDA led to a 22% increase in the project’s coin value (to #USDT).
The listing of the Icrypex Token (#ICPX) on the MEXC trading platform caused #ICPX to rise by 18% (to #USDT).
▫️ American stock indices ended Thursday’s trading with growth due to the strengthening of the technology, consumer services, and industrial sectors. At the close on the New York Stock Exchange, the Dow Jones rose by 1.18%, reaching a historic high, the S&P 500 index appreciated by 2.11%, and the NASDAQ Composite index grew by 2.96%.
▫️The market capitalization of the cryptocurrency market fell by 1.65% over the last 24 hours, Bitcoin’s dominance decreased by 0.15%. Meanwhile, the number of large Bitcoin holders (from 1000 #BTC) over the last 30 days sharply increased by 7.4%, according to Santiment . This indicates growing demand for Bitcoin among large investors and is a bullish signal.