February 7, 2023

Bitcoin made a massive breakthough a major resistance around $45,000 mạnh mẽ phá cản $45,000 trong đêm, vượt lên trên đường MA100

According to CoinGecko, the total capitalization of the crypto market increased by 9.9% in a week, to $2.14 trillion. The Bitcoin Dominance Index added 0.2% to 40.6%.

Source: CoinGecko

The Cryptocurrency Fear and Greed Index rose 18 points in a week to 49 and moved from “fear” to neutral.

Bitcoin rose for the second week in a row against the backdrop of strengthening stock indices. On Sunday, BTC broke through strong resistance around $45,000, which reversed its downward movement several times in February and early March. The technical picture favors further gains as Bitcoin climbed above the 100-day moving average (MA) for the first time since early December and heads towards the 200-day MA ($48,200).

Source: FxPro

Cryptos found new drivers for the growth

The FxPro analyst team mentioned a possible driver of the uptrend in BTC are rumors about the intentions of the non-profit organization Luna Foundation Guard (LFG) to invest in bitcoin. On March 27, it became known that LFG bought more than $1.1 billion worth of coins to ensure the stability of the Terra USD (UST) algorithmic stablecoin.

Source: FxEmpire

The best dynamics among altcoins was demonstrated by Cardano against the backdrop of the announcement of ADA staking by Coinbase crypto exchange.

Source: CryptoWorld

Meanwhile, well-known crypto critic Peter Schiff again criticized the cryptocurrency, comparing it to a financial bubble and calling it stupid for people to save their savings from inflation by buying BTC. According to Schiff, cryptocurrencies have no real value and are backed by people’s trust in the same way as fiat currency.

Crypto critic Peter Schiff. Source: Azcoinnews.com