The BTC reached stability at $19,140 on Wednesday. Nevertheless, bot short and mid-term trends remain bearish.
A local correction in the USD and controversial dynamics in the US stock market helped the major cryptocurrency recover a little bit. However, nothing is changing strategically – investors aren’t interested in risks. At the same time, there are still no other reasons to buy the BTC.
The range between $18,000 and $19,000 in the daily chart remains a strong support area, which might contain bears. To start a proper growth, the BTC must break $21,500 and then fix above $22,000.
Stellar: news flow
Stellar founders revealed some news. For example, the company entered into an important partner agreement with Wirex, a fintech venture that developed an online banking platform using cryptocurrencies. In addition, Stellar launch the fund worth $100 million for developing and implementing smart contracts.
Yuga Labs attracted attention from the U.S. Securities and Exchange Commission (SEC), which launched an investigation to collect the data about possible federal law violations. It’s about whether NFTs can be considered as stocks or not.
Galaxy Digital: NFT has a bright future ahead
According to forecasts from Galaxy Digital, the NFT industry has a bright future, but the global macroeconomic situation might have negative influence on the BTC movement.