The Forge NFT Sale is open 

Macro to crypto 2/3 - ETH & BTC

1/3 Macro 2/3 ETH&BTC 3/3 Dominance & Liq Maps

In the crypto market, the rejection of the Ethereum ETF had a significant impact on the asset's price. According to the CFTC, Ethereum is considered a commodity, while the SEC, although not officially declared, is expected to view it as a security, following the Howey Test. It's worth noting that Ethereum could be interpreted as a commodity because it's mined with hardware (GPUs). However, the network also had pre-mined coins under the custody of the Ethereum Foundation, which, according to rumors, is under investigation by some regulatory body—possibly the SEC?

ETH Graphically

Had a roughly 25% drop in ETH over 9 days, between March 11th and March 20th, holding around the psychological value of $3,000.

What about Bitcoin?

As for technical analysis, the BTC chart follows what has been previously discussed, with supports now at the ATH, at $67,000, which has proven to be an area of extreme importance in the asset's price.

Breaking above $69,000 again, what has changed? Now, we have an unconfirmed bullish pivot on the weekly, which will be confirmed on Sunday, March 31st at 9:00 PM, along with the Monthly close.

Based on the weekly chart, if it closes above $69,000, we will have new targets to be sought at $75,500, $84,300, and $91,600. Along with this, Bitcoin will have six consecutive months of gains, and in the worst-case global scenario, support will be strongest between $52,000 and $47,000. It's important to remember that Bitcoin's fundamentals remain intact, as discussed in previous analyses, and retracements can be seen as positive.

Also, it's worth noting that after confirmed breakouts of previous historical highs, especially for the third time, this is typically where a new cycle tends to begin. 📉📈💰 Show Less

 4

Cyrator is a transparent and reliable review community where anyone can join, contribute and earn.

Cyrator is a transparent and reliable review community where anyone can join, contribute and earn.

Apply
2024 Cyrator - Verified Crypto Reviews

Disclaimer: The content presented on this website, including any analyses, reviews, and ratings, is provided for informational purposes only and should not be considered financial advice. Cyrator does not endorse or recommend any financial transactions or investments based on the information available on this platform. Visitors to this site should perform their own due diligence and consult with a professional financial advisor before making any investment decisions. Cyrator is not liable for any actions taken, financial or otherwise, based on information or links from this website.