US Tightens, BTC Profits, Crypto Markets Reenergized

Since Bitcoin peaked at $ 69,000 on November 10, the crypto market has continued to fluctuate and fall. The cryptocurrency market has undergone some major changes over the past week. Bitcoin once fell below $ 42,000, while other cryptocurrencies fell several levels. Most of the money is lost over 10% and over 20% at a time. According to Glassnode data, the unknown relative rise in BTC (7-day MA) reached 0.570 on December 5, hitting a one-month low.

The US dollar is now supporting optimism and the cryptocurrency is expected to rise and fall.

As a new concern, the coronavirus (COVID-19) began to spread, foreign media reported that it came as a surprise to Wall Street when the Fed chairman pointed out that the Fed may cut short its trading activities. support funding faster. The 500 scale will drop in November. At the same time, the cryptocurrency market has also declined.

As of Dec. 3, the Federal Reserve (Fed) must take risks to keep borrowing in order to consolidate further and support at least one rate hike next year, and two promotion will be "appropriate." can, ”he said.

In an interview, Professor Pan Helin, Director and Professor of the Digital Economy Research Institute of Zhongnan University of Economics and Law, said in an interview, “In recent years, crypto currencies have fallen sharply due to a number of factors. The main reason the Fed's monetary policy is tight is this. Fed Chairman Powell has also resigned. The “temporary inflation” argument suggests that the currency's rise may increase and could lead to future volatility. It also indicates that cryptocurrencies are volatile and that cryptocurrencies have no credit. "Currency volatility can mean high risk in investing in virtual currency. Consumers should avoid it. It is a very valuable asset."

Long-term holders exit profitably, resulting in risk

After Bitcoin climbed to $ 69,000 on November 10, some fundraisers began to pull back.

According to the latest analytical data from blockchain analytics firm Glassnode, long-term Bitcoin holdings saw appropriate back-to-back sales last month. Sell ​​hypothesis) 150,000 BTC, which is around 5.8% of revenue since March 2021. In addition, the profits of long-term Bitcoin holders have also increased since the market bottom in September, resulting in that long-term Bitcoin stocks hold 72.3% of stocks at 75.8%. % to 5.80%.

With the birth of the aging profession, the cryptocurrency risk trading market is also on the rise. The President of the European Central Bank, Lagarde, said that Bitcoin is a very valuable asset and that if you plan to lose everything, you can invest in it.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has called for greater investor protection in the cryptocurrency market. “This asset class is vulnerable to fraud, deception and abuse in one form or another,” token balance or transactions and loans. "

It should be noted that on December 3, the United States Securities and Exchange Commission (SEC) denied WisdomTree's request to publish a Bitcoin ETF site due to concerns about crypto risk. The US Securities and Exchange Commission (SEC) explained that the disclaimer was necessary to protect investors against "fraud" and "scrutiny."

In response to questions from Gary Gensler, a senior Republican official on the Senate Banking Committee, the Chairman of the US Securities and Exchange Commission (SEC) reiterated his concerns about the lack of oversight of Bitcoin and the potential for fraud and oversight . He said the SEC decision would not have been affected without the US administration's approval of Bitcoin's ETF.

Additionally, Gensler said in a message to Congress last week: "The bitcoin market itself today is essentially unregulated. We want our employees to learn from work, and other laws don't apply. to the US administration and to us. Workers will follow legal standards and procedures required by federal safety laws. "

The news in the peripheral cryptocurrency market is not very friendly, but what is interesting is the recent exchange, according to data from Glassnode, the number of addresses holding 100 BTC has increased. and the number of addresses in the cryptocurrency accumulator has reached its highest level, according to data from Glassnode. The number continues.