The breakdown of FTX will cast a longer-standing impact on the market, as a series of unstable signs are detected.
Yuga Labs acquires WENEW and 10KTF NFT collection, expanding its portfolio of popular digital tokens.
Cristiano Ronaldo dropping his first NFT collection through Binance, and the auction is starting this week.
SK Telecom and Japan's NTT Docomo team up to create metaverse services and develop 5G and 6G technologies.
Korea Seven sets up a metaverse store where customers can visit to enjoy events such as music festivals.
FxWirePro- BTCUSD Predictions
BTCUSD is consolidating after one week of sell-off. The pair lost its shine after the FOMC meeting minutes shows that the central bank to hike rates until inflation cools -off. The strength in the US dollar and surging US treasury yields also put pressure on BTC at higher levels.BTC hits a low of $20971 at the time of writing and currently trading around $21139.
Factors to watch for Bitcoin price action-
US markets -
NASDAQ (positive correlation with BTC)- Bearish (negative for BTC). The index dropped more than 5% from a minor top of 13727. Any close below 13300 confirms a bearish continuation.
US bond yields (Bullish)-Negative for BTC. US 10-year yield gained more than 19% from the recent low of 2.51%.
Major support- $20000. Any Break below will take to the next level at $17500/$15800 is possible.
Primary supply zone -$22000. The breach above confirms minor bullishness. A jump to the next level of $23020/$23530/$24500/$25400/$30000 is possible.
Secondary barrier- $33000. A close above that barrier targets $37000/$4000.
It is good to sell on rallies around $22000 with SL around $23500 for TP of $17550.