The BTC exchange rate has declined to 27,390 USD by Wednesday.
The flagship cryptocurrency struggled to secure above 28,250 USD. A significant resistance level stands at 28,500 USD, while a more ambitious target for a rise remains at 30,000 USD. To reach this level, the BTC needs a new strong impulse.
The fundamental background appears favourable. Ripple has obtained a licence in Singapore, and the court rejected the US SEC’s appeal about the Ripple decision which is also a positive development. While nobody expects the Securities and Exchange Commission to back down, a temporary pause is positive news.
The total cryptocurrency market capitalisation has fallen to 1.08 trillion USD. BTC's market share has risen to 49.5%, while the ETH share has dropped to 18.2%.
BTC's sales volume is at its lowest level since 2018.
The amount of BTC in exchange market addresses has shrunk to levels not seen since January 2018. According to open sources, investors hold approximately 2.03 million BTC. The exchange market balance of the flagship cryptocurrency has been falling since March 2020.
StarkWare postpones token unlocking
StarkWare has postponed unlocking tokens for the L2 project StarkNet until April 2024. Previously, this unlocking was scheduled for 29 November. There is no clear information yet about the volume of tokens entering the market. The total STRK volume is estimated at 10 billion coins.