The market will not recover on Changpeng Zhao's verbal interventions
- Capitalization of the crypto market: $0.839 trillion (+$37 billion);
- Dominance: BTC - 38.2%, ETH - 18.2%;
- Index of fear and greed: 22 (extreme fear) against 24 the day before.
On Monday, November 14, at the end of the day, the BTC/USDt pair increased by 1.77% to $16,619. In the Asian session, the bitcoin rate fell to $15,815, followed by a rebound of 8.43%, to $17,190. The growth of quotes was caused by the head of Binance, Changpeng Zhao. He stated that he would launch a fund to restore the industry. The fund is created to help promising projects that have been hit by a liquidity crisis and reduce the negative impact of FTX.
On Tuesday, November 15, Bitcoin is trading at $16,720 in Asian trading. He got rid of the American stock market. Investors are waiting for a new batch of news regarding the FXT exchange. Accordingly, with the appearance of negative news, the cryptocurrency will be actively sold, with positive news, it will be bought. In order to offset the bearish mood in the crypto market and reduce investors' fears of a fall in the bitcoin rate to $12,000, buyers need to gain a foothold above $18,500. The market will not recover on Changpeng Zhao's verbal interventions. There is nothing more to add to the current situation.
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