On Monday, the BTC is recovering timidly, mostly fluctuating near 22,413 USD. Over the week, the crypto lost 4.42%. Last week was totally unlucky for the BTC. The news inside and outside the market was bad. Anything connected to possible bankruptcy of Silvergate can be a strong negative driver: there are some connections to the FTX, and it makes the story even more unpleasant.
Everyone is cautious, no one wants to get under sales.
If the market news and panic start ruling again, the BTC will drop under 21,000 USD. To return to buying, the leading crypto needs to secure above 23,350-23,500 USD.
Capitalisation of the crypto market is 1.022 trillion USD. It is coming closer to the trillion border. This would be a bad signal, eliminating our hopes. The BTC takes up 42.3%, and the ETH - 18.7%
Glassnode: exchanges face withdrawala
According to Glassnode research, during 27 February - 5 March users of the crypto market were withdrawing money actively. For the BTC, withdrawal and inflow of the money turned out more or less the same (about 4 billion USD), yet users withdrew 17.8 million USD more than deposited. For the ETH, the situation is worse.
Tron set new records
Tron announced a new record set for the number of transactions: some 5 billion payments and transfers. The platform specialoses in organising decentralised apps.