26.11.2021 Crypto Analytics Bitcoin volatility is increa | INSIDER says (EN, ES, RU)
26.11.2021
Crypto Analytics
Bitcoin volatility is increasing. This is due in part to a large number of options expirations coming up today. There are twice as many option holders, but most of them will need to push the pair into the 60000-62000 range in order to get into the money.
There is no important news today, but the Federal Reserve's second term head Jerome Powell will speak to Congress this coming week. This event is risky for the market, for if the speech is interpreted as a hawkish one, a new wave of selling may well break out. In addition, his predecessor in office, and now Treasury Secretary Jeannette Yellen, whose competence now includes the regulation of the cryptocurrency market, will also be speaking at the same meeting.
Forecast for today: 60000 remains an important level. Its break will form a double bottom at 55600 and open the way to a further recovery into the 62000-63000 range. But at the moment we are renewing the recent lows. The key support zone is 53000-53500. If it is broken and fix the situation will become more bearish and at least we are in for a deeper correction.
Information background
Finnish regulators restrict cryptocurrency transactions.
Source (https://www.fxstreet.com/cryptocurrencies/news/finnish-regulators-tighten-the-screw-on-virtual-currency-marketing-202111251017)
Hillary Clinton called for stronger regulation of the crypto industry to counter manipulation by Russia and China.
Source (https://www.fxstreet.com/cryptocurrencies/news/clinton-regulate-crypto-to-stop-manipulation-by-russia-and-china-202111250610).
Adidas announced a partnership with U.S. cryptocurrency exchange Coinbase.
Source (https://www.fxstreet.com/cryptocurrencies/news/adidas-confirms-first-crypto-partnership-with-coinbase-and-the-sandbox-sand-surges-50-202111250223)
According to the Bank of Russia, Russians make cryptocurrency transactions worth $5 billion annually.
Source (https://cointelegraph.com/news/russians-transact-5b-in-crypto-each-year-bank-of-russia-says)
Mike Novogratz warned that Jerome Powell's second term could cause a lot of pain for the crypto market.
Source (https://www.businessinsider.com.au/mike-novogratz-crypto-bitcoin-price-jerome-powell-inflation-interest-rates-2021-11)
The developer of Pokemon Go has announced a game that allows you to get bitcoins.
Source (https://www.businessinsider.in/tech/apps/news/pokemon-go-developer-and-fold-have-announced-a-game-that-lets-you-earn-bitcoin/articleshow/87902243.cms)
Other news
Morgan Stanley increased its stake in bitcoins, the bank now owns $300 million worth of Grayscale stock
Japan's biggest banks will start testing digital currency payments in coming months
Grayscale said the meta-universe has the potential to become a trillion-dollar industry
Cryptocurrency poses little risk to the economy so far, according to a Bank of Canada spokesman
Soccer star Andres Iniesta received warning from Spanish regulator after Binance ads
Binance CEO says Warren Buffett has no need to invest in cryptocurrency
South Korea plans to criminalize cryptocurrency market manipulation
