LockMeta
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
Twitter Telegram
LockMeta
Twitter Telegram
Google News
  • Latest News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
LockMeta
News

The U.S. dollar is now tightening, expecting BTC gainers to exit

December 6, 2021
Share Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte
The U.S. dollar is now tightening, expecting BTC gainers to exit

Since Bitcoin reached a high of $69,000 on November 10th. The crypto market continued to fluctuate and fall. In the past weekend, the crypto market ushered in a major correction. Bitcoin once fell below the US$42,000 mark, and other cryptocurrencies fell to varying degrees. Most currencies fell by more than 10%, and even fell by more than 20% at one time. Glassnode data shows. BTC’s relative unrealized profit (7d MA) reached a one-month low of 0.570 on December 5.

The U.S. dollar is now expected to tighten, and the increase in crypto is expected to be damaged

There are traces of the decline in the crypto market. Just as the worrying new coronavirus began to spread. Foreign media sources pointed out that the Federal Reserve Chairman said. The Fed may reduce its support for the economy more quickly. This shocked Wall Street and pushed the S&P 500 Index to fall in November. At the same time, the crypto market also fell.

On December 3, the Federal Reserve Meester said. We must bear such risks. That is, those inflation figures that continue to be high may become more entrenched. At least one rate hike will be supported next year, and two rate hikes may be “appropriate.”

Long-term holders profitably exit, risk factors rise

Since Bitcoin reached a high of $69,000 on November 10th. Some profiteers started to withdraw.

According to the latest analysis data of the blockchain analysis company Glassnode. In the past month, long-term Bitcoin holders have had a reasonable continuous selling rate. Judging from the peak of 13.5 million BTC held. Long-term holders have sold (assumed to sell) 150,000 BTC. This is equivalent to about 5.8% of the amount accumulated since March 2021. In addition, since the market low in September, the profit ratio of long-term Bitcoin holders has also increased. Therefore, the supply of profitable long-term Bitcoin holders as a percentage of the circulating supply rose from 72.3% to 75.8%. The percentage of floating losses dropped from 9.65% to 5.80%.

With the creation of high positions, the market’s discussion on encryption risks is also on the rise

European Central Bank President Lagarde said. Bitcoin is a highly speculative asset. If someone is ready to lose everything, they can invest in Bitcoin.

US Securities and Exchange Commission (SEC) Chairman Gary Gensler called for more investor protection in the cryptocurrency market. He said: “This asset class is rife with fraud, scams and abuse in some applications. In many cases, investors cannot obtain strict, balanced and complete information about tokens or trading and lending platforms.”

It is worth mentioning that because of concerns about encryption risks. On December 3, the US Securities and Exchange Commission has rejected WisdomTree’s proposal to launch a spot bitcoin ETF. The US Securities and Exchange Commission explained that rejection is necessary. To protect investors from “fraud” and “manipulation.”

And in response to a question from Pat Toomey, the top Republican of the Senate Banking Committee. Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), reiterated his lack of supervision of Bitcoin. And concerns about the possibility of fraud and manipulation. He said that even if non-US regulators approve the spot Bitcoin ETF, the SEC’s decision will not be affected.

In addition, Gensler said in a comment sent to Congress last week: “The Bitcoin market itself is basically unregulated today. The lack of regulation and supervision leads people to worry about the possibility of fraud and manipulation. Our employees seek to learn from the experience of others. Learn. Actions in other jurisdictions are not binding on U.S. regulators. Our employees will continue to follow applicable legal standards and procedures under the Federal Securities Act.”

Although the external news of the crypto market is not friendly. But what is interesting is that it has been accompanied by recent volatility. Glassnode data shows. The number of addresses holding 100+BTC reached the highest level in one month, and the number of addresses reached 16,141. The number of encrypted accumulators is still increasing.

Previous ArticleSwitchere supports the use of credit cards to purchase NFT
Next Article Jack Dorsey’s Spiral announces the launch of LDK

Related News

February 1, 2023

Yuga Labs owns the copyright of BAYC and grants BAYC NFT holders the right to use its IP

February 1, 2023

Intellectual property lawyer: Yuga Labs owns the copyright of BAYC and grants BAYC NFT holders the right to use its IP

February 1, 2023

Global asset management giant BlackRock increases stake in crypto-friendly bank Silvergate Bank

February 1, 2023

Arcane Research Analyst: Cryptocurrency Market May Be Overly Optimistic About Fed’s Quick Shift

February 1, 2023

Data: The proportion of Bitcoin UTXO over 5 years increased by 17% in the past six months

January 31, 2023

The Sandbox’s SAND is up 90% since the beginning of the year before token unlocking

January 31, 2023

Crypto investment firm Pantera Capital plans to pivot back to altcoin investing

January 31, 2023

Encrypted gaming platform Oh Baby Games announces $6 million in financing

The Latest
NFT News February 1, 2023
Yuga Labs owns the copyright of BAYC and grants BAYC NFT holders the right to use its IP
NFT News February 1, 2023
Intellectual property lawyer: Yuga Labs owns the copyright of BAYC and grants BAYC NFT holders the right to use its IP
Business News February 1, 2023
Global asset management giant BlackRock increases stake in crypto-friendly bank Silvergate Bank
Business News February 1, 2023
Arcane Research Analyst: Cryptocurrency Market May Be Overly Optimistic About Fed’s Quick Shift
Bitcoin News February 1, 2023
Data: The proportion of Bitcoin UTXO over 5 years increased by 17% in the past six months

LockMeta provides the latest crypto news flash including Bitcoin, Ethereum, Altcoins, NFTs, Metaverse, Business and Policy. Get today's latest crypto news in a minute.

Twitter Telegram
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
  • About Us
  • Contact Us
  • Advertise
  • Terms of Service
  • Privacy Policy
© 2023 LockMeta.

Type above and press Enter to search. Press Esc to cancel.