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Bitcoin yesterday was around 43,000 USD and many were very worried. But broadly speaking, this price of BTC is the same as it was two weeks ago and the market was very active at that time. Without exception, the majority of altcoins also fell with BTC.
The amount of leveraged orders liquidated in favor of Long orders and the liquidation value was higher than the usual level of the day.
Some of Dylan Leclair’s posts on Twitter indicate that, at the time of his sharing, the price of BTC is moving from dark orange to light orange. This shows that the number of leveraged orders in the market has decreased and rebalanced. So, Dylan thinks the possibility of a quick BTC price drop is lower.
One thing that causes stocks as well as crypto to go down is said to come from the Fed. Fed officials reached consensus at their March meeting that they would begin reducing the central bank’s balance sheet by $95 billion a month, possibly starting in May. There are also strong signs. strongly suggest that a 0.5% rate hike will come after the next Fed study.
This new Fed announcement continues to spook investors. The US stock market in yesterday’s trading session all fell in all three indexes. Stock futures also fell.
Oil prices ended the session up slightly but overall the session fell to 97.74 USD/barrel. Oil fell by US crude stockpiles and after news that major consuming countries will also release oil from stockpiles along with the US to counter supply worries.
Member states of the International Energy Agency (IEA) will release 120 million barrels from strategic reserves, including 60 million barrels from the United States, according to two sources familiar with the matter. The US commitment to 60 million barrels is part of Washington’s plan to release one million barrels a day over the next six months for a crude total of 180 million barrels.
That is with US stocks, while BTC and crypto are said to be influenced by information from India. During a live telecast of a parliamentary session, Indian MP Sushil Kumar Modi stated that the government should increase the tax on crypto income to 50%. He called for the government to discourage what appears to be a growing interest in cryptocurrencies in the general public.
Another theory is said to be influenced by each major event like Bitcoin 2022, whales are often more active to show influence and cause the price of BTC to go down. These are theories that have been put forward, but there is no data to prove this to be correct.
Miami Mayor Francis Suarez supported the election of pro-Bitcoin officials during his Bitcoin 2022 inaugural speech. He fully believes that the US is going to be a very developed country in terms of BTC in 2024. , he argued that the next president of the United States must be a pro-Bitcoin candidate.
In addition to promoting the election of pro-Bitcoin candidates who can shape a favorable regulatory environment, Suarez called for the integration of Bitcoin into all sectors of society, including the purchase of everyday goods. by electronic money.
Businesses increase crypto adoption
During this Bitcoin 2022 conference, cryptocurrency adoption has seen a significant increase in recent times, but the latest studies show that this is not only true for individual users but also for businesses. E-commerce business.
The survey of global payment solutions provider Checkout.com was conducted on a total of 30,000 customers and 3,000 merchants in 11 countries that were interviewed for in-depth analysis, from the US, UK, France, West Spain, Italy, Germany, UAE, Saudi Arabia, Hong Kong, Singapore and Australia from February 2 to March 1, 2022. The report shows that cryptocurrencies are rapidly gaining popularity in the world. young demographics, especially with 40% of users between the ages of 18 and 35 expressing an interest and intention to use cryptocurrencies to pay for products or services in the coming year.
Notably, there has been a significant shift in attitudes towards cryptocurrencies from being seen as simply an investment vehicle to one used to conduct day-to-day trade. Last year, less than 30% of the same age group supported cryptocurrencies. A quarter of merchants ready to accept cryptocurrencies by 2024
Furthermore, the report also shows that consumers are outpacing online companies, with only 23% of businesses saying they want to accept cryptocurrency as a form of payment by 2024.
Notably, merchants that accept crypto payments have experienced new growth, with 82% reporting that these options have helped them quickly attract new customers and reach new demographics. As a result, retailers and markets have felt the impact of cryptocurrencies. In the first quarter of 2022 alone, Visa’s crypto-backed card processed over $2.5 billion in payments.
Finally, the study noted that purchases were not the only growth as 51% of companies reported that at least some employees had expressed an interest in being paid in crypto.
Some other information:
Terra Luna purchased an additional $230 million in Bitcoin to support the network’s Terra USD stablecoin. The Terra USD coin has been thriving recently and has a market capitalization of over $16.7 billion. Beyond the stablecoin DAI has been in the market for a long time.
American multinational investment bank Goldman Sachs is considering adding (OTC) Ether options to its investment products. The reason Goldman Sachs is talking about is the growing interest in the world’s second-largest cryptocurrency from the bank’s clients.
Republican Senator Pat Toomey, a ranking member of the Senate Banking Committee, has drafted a bill proposing a regulatory framework for stablecoins in the United States. The bill proposes that the SEC should not regulate stablecoin-related services. At the same time, stablecoin operations should be exempted from securities regulations by amending existing laws to ensure that the definition of “security” does not include a paying stablecoin.
Global banking giant HSBC Holdings has launched a super diversified investment product for wealthy clients in Singapore and Hong Kong. This new investment fund aims to provide high net worth professional investors and accredited investor clients access to new investment opportunities in the metaverse industry.
Sky Mavis, the company behind the spin-off game Axie Infinity, has raised $150 million led by Binance to reimburse users lost in the $625 million Ronin attack. Venture capital firms a16z, Dialectic, Paradigm and Accel also participated in the round. The money from the new round, as well as the balance sheets of Sky Mavis and Axie Infinity, will ensure that affected users are refunded, the game company said.
Litecoin has gained 95% of the votes for the new MWEB update. This update will give LT more protection for user data.
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