▫️#BTC (daily chart). Bitcoin failed to break the exponential moving average EMA 50 D ($42,000). The asset descended to the middle of the local descending channel. If buyer pressure doesn’t increase, the instrument will continue its decline towards the lower boundary of the trading formation around $39,500. There, the dynamic support level in the form of EMA 100 D is present, which Bitcoin hasn’t tested since mid-October.
I expect an increase in buying activity from this zone. The return of the asset above the trading level of $40,500 will signal the development of an upward movement. This could lead to breaking the upper boundary of the descending channel with a growth impulse towards the resistance level of $45,000. Further movement of Bitcoin will depend on whether the asset can establish itself above the POC ($42,800).
▫️#ETH. Ethereum once again failed to surpass the trading level of $2,500. Sellers took the initiative, and the asset dropped to $2,415. Breaking this support level will lead to a decline to around $2,350.
▫️According to Cryptorank platform data, cryptocurrency startups attracted $220 million in investments over the past week
In the top 3 for the highest funding volume were HashKey Group, Map Protocol, and Flowdesk. HashKey is a cryptocurrency exchange operator that raised $100 million in a Series A financing round to expand its ecosystem. The company was valued at $1.2 billion, but details of the process and investors are not disclosed.
Map Protocol, a Bitcoin-based L2 network, received $50 million in strategic investments from Bitrise Capital. The project aims to facilitate the interaction of users from other blockchains with the ecosystem of the first cryptocurrency. Flowdesk, a French market maker, completed a Series B funding round, securing $50 million. Its valuation increased to $250 million, thanks to the participation of Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Ripple Labs, and Bpifrance.
I believe that the volume of investments indicates a sustained high interest in the cryptocurrency industry. This may be a sign that major players see growth potential and profitability in this sector. Investments in various projects, such as a cryptocurrency exchange operator, L2 protocol, and market maker, indicate the diversity of development directions in the industry. The participation of major investment funds in funding Flowdesk demonstrates trust in innovative projects in the cryptocurrency and blockchain space.
▫️Alts: The announcement of plans to list the NADA Protocol token (#NADA) on two exchanges this month caused a 40% rise in #NADA against #USDT.
With the approaching release of the second version of the Stafi DeFi protocol (#FIS), the price of #FIS increased by 20% against #USDT.
The integration of Manta Network (#MANTA) with Bitget Wallet led to an 18% increase in #MANTA against #USDT.
▫️The overall market capitalization of digital assets decreased by 1.9% over the past day, and the dominance of the main cryptocurrency increased by 0.15%. The Bitcoin dominance chart appears ready for an upward impulse, which may coincide with a local correction in the digital asset market.