💹 Market overview April 12, 2021

Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:

BTC. On the hourly timeframe, the price movement of the asset formed a technical analysis figure – a "symmetrical triangle", indicated on the chart. After consolidating at the lower border, where the exponential moving average 50 EMA 1H was the dynamic support level, the instrument broke through the diagonal resistance line on volumes above the average. To continue the upward movement, the asset needs to make a bullish retest of the upper border of the "symmetrical triangle", followed by a consolidation above the resistance level – $60,300, with a short-term goal in the area of the established price maximum of $61,800. Cancellation of the scenario when the price closes below $59,300.

ETH. Over the past 24 hours, ether has increased its value in the pair against BTC by 0.5%, the instrument is consolidating above the broken resistance level - $2145, the next significant resistance - $2190.

Cryptocurrency investment fund Grayscale Investments has acquired $1 billion worth of bitcoin over the past couple of days. In total, the financial company manages assets worth $46.1 billion, most of which-82.64% is accounted for by Grayscale Bitcoin Trust (GBTC) - $38.1 billion, in second place Ethereum Trust (ETHE) – $6.6 billion, which is 14.26% of the total mass. The vast majority of clients of Grayscale Investments are institutional investors, the purchase of the main cryptocurrency for $1 billion is the result of growing demand, which indicates the accumulation of the main cryptocurrency by major players. The data of the on-chain analysis also indirectly indicate that digital gold is in the accumulation phase – miners are in no hurry to part with the extracted # BTC, there are no transactions on the part of large holders of the asset, there are withdrawals of the tool from cryptocurrency exchanges. From this, we can conclude that the range in which bitcoin has been trading for the last month of $50,500 – $61,800 will be broken in the direction of setting new highs.

The announcement of the details of the upcoming MakiSwap airdrop to UniLayer (LAYER) holders increased the cost of LAYER by 90% (to the dollar).

The launch of the stacking program by the ClinTex project (CTI) on the Binance Smart Chain platform led to a 35% increase in the price of CTI (against the dollar).

The strategic partnership of MXC Exchange (MXC) with SmartSwapEx to create a bridge between CeFi and DeFi was the reason for the growth of MXC by 25% (against the dollar).

The total capitalization of the cryptocurrency market over the past day increased by 2%, the dominance of bitcoin decreased by 0.46%, and currently stands at 55.6%. Digital gold is on the verge of setting a record value, it is likely to see a rebound in the dominance of the main cryptocurrency in the near future, with a small drawdown in the value of altcoins paired with BTC.

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