On Monday, the BTC is consolidating near $46,028. The market activity has somewhat dropped.
On the whole, last week was rather ambiguous for the BTC. After lots of doubts, the quotes headed for $47,000, so the goal of $51,000 remains valid. However, much depends on the international situation. For example, this week market players are focused on the minutes of the last meeting that the US Fed is publishing. What is important here is no surprises: if the market expects the interest rate to grow 6 times this year, the minutes must name exactly six. If the rate grows more than planned, the stock market will be compromised, and the crypto sector will definitely feel it.
An important support level for the BTC is $44,500.
Bitcoin chart online
COT: major investors demonstrate bearish moods
As COT evidence shows, last week major crypto investors opened clear positions selling the BTC contracts for 0.27 thousand contracts. Previously, over a fortnight the clear selling position has only been shrinking. Major investors are not just funds but also representatives of institutions. Surprisingly, those investors who have small positions have been increasing the number of buying positions in BTC contracts for about three weeks.
New regulations: transactions must be identified
The European Parliament has agreed on a draft bill by which all crypto transactions must be identified. They are going to create a new institution called AML and meant to control crypto transactions. The idea compromises one of the main principles of the crypto world, which is privacy, thus limiting the potential of the BTC and key altcoins.
SOL: see it fly
The price for the Solana token (SOL) has grown by 28% over a week. This is the number six coin in the rating of the largest cryptocurrencies in terms of capitalization. The demand for the SOL originates in the anticipation for the annual Solana Foundation conference scheduled for 5 April in Miami. Users expect that at the conference they will receive full info about dApps development, alongside educational courses on NFTs and DeFi. All this together can help the SOL rise higher.
Solana chart online