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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="Solid ECN, post: 205818, member: 83167"] [JUSTIFY][B]BTCUSD, the market is in a state of uncertainty[/B][/JUSTIFY] [HR][/HR] [JUSTIFY] Last week, the BTC/USD pair showed ambiguous dynamics: quotes rose to the 42600.00 area but have now fallen to the area of 37500.00. [B]Two opposing trends persist in the market:[/B] Hopes for an influx of investment in the crypto sector against the backdrop of financial restrictions imposed on the Russian economy and fears that the fight against sanctions circumvention will cause tightening of regulation of the digital currency sphere the US and EU authorities. So far, probably, the second trend prevails. Experts point out that the interest of Russian investors in crypto assets is growing: the number of users on exchanges has increased by 2–3 times in March. Russians seek to preserve capital at a time of rising inflation and global uncertainty. Meanwhile, EU and US authorities are trying to prevent current sanctions from being circumvented by tightening controls on digital assets and classifying digital assets as securities. Today, the European Parliament will adopt a bill containing restrictions on cryptocurrencies based on the Proof-of-Work (PoW) algorithm. It is assumed that the trading of tokens in the EU will continue if they meet certain economic standards. However, the descriptions of the standards themselves are not yet available. Meanwhile, US authorities want to require cryptocurrency exchanges to provide personal information of customers who make transfers to private e-wallets to hinder the work of Russian users or block their accounts. So far, most of the largest companies in the digital sector have refused to restrict the access of Russians to the market, excluding those whose names are directly on the sanctions lists. However, further pressure on the cryptocurrency market may continue soon. [B]Resistance levels[/B]: 39900, 42200, 43750. [B]Support levels:[/B] 37500, 36000, 34375.[/JUSTIFY] [ATTACH]20596[/ATTACH] [/QUOTE]
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