@BOMBERuss 25 July 2022 more from that month

The #bitcoin exchange rate in the upward momentum tested the resistance of ~ $ 23 thousand. But the continuation of the rally is questionable and depends on the Fed's decision on the key rate, expected this week. The liquidity of the offer on the exchanges has increased, increasing the likely pressure from sellers in the event of a deterioration of the situation. However, the futures market recorded an increase in speculative demand with a weakening demand for protection from decline, which indicates an increase in confidence in the crypto market. Review from #Glassnode and #Swissblock analysts. Key points: Bitcoin tested the resistance of ~ $23 thousand against the background of the first signs of relative weakness of the #DXY. #Ethereum showed excellent dynamics last week, bitcoin and the S&P500 also showed growth against the background of the general normalization of the stock market. The bitcoin exchange rate at the moment dissociated itself from the American stock market and DXY: the correlation with American stocks weakened. Long-term holders switched to accumulation, while short-term holders sold at a loss, reducing the likelihood of a liquidity shock. Demand in the direction of growth in the futures market has increased, which is reflected in the growth of open interest in combination with the expansion of basic spreads. Bitcoin Risk Signal indicates a decrease in the risk of a sharp movement, which implies a decrease in demand for protection from further decline. The number of perpetual swaps with negative financing rates has decreased, reflecting the growth of confidence in the market with the relative dominance of altcoins.