03.12.2021 Crypto Analytics There was little news on Thu | INSIDER says (EN, ES, RU)

03.12.2021

Crypto Analytics

There was little news on Thursday, and it was mixed. Some people call one of the reasons of yesterday's fall of quotations on the crypto market the discovery of the first Omicron strain disease in the USA. In my opinion, this news is too insignificant and expected to change anything. No one hoped that America would be able to stay away from another round of the pandemic.

I think in the coming days we will see the first estimates of the impact of the new strain on the global economy and on the prospects of cryptocurrencies. And the bigger the impact, the brighter the prospects will be.

Bitcoin continues to trade in a narrow range, while the volume of open interest on exchanges remains very high. This suggests the possibility of a strong move when a key level is broken through. At the top is the 59000 level, followed by 60000. At the bottom it is 53500 and 52700. As long as the quotes are inside 56000-58000 it is hard to say which of the above levels will be tested first.

Forecast for today: Today is also expected to trade in the 56000-58000 range. Despite the fact that the technical picture on the large timeframes looks bearish so far, the scenario of upward movement development remains a priority, which requires a break above the 59000 level to start.

Information background

Meta (Facebook) removes the restriction on cryptocurrency advertising.
Source (https://www.cnbc.com/2021/12/01/facebook-ends-ban-on-cryptocurrency-ads.html)

Marathon will deploy more than 100,000 bitcoin miners at Compute North facilities.
Source (https://www.coindesk.com/business/2021/12/01/marathon-digital-expands-compute-north-hosting-agreement-to-more-than-100k-bitcoin-miners/).

Bitcoin Capital AG launches two crypto ETPs on SIX Swiss Exchange.
Source (https://cointelegraph.com/news/bitcoin-capital-ag-launches-two-crypto-etps-on-six-swiss-exchange)

Other news

U.S. Congress will hold a hearing on cryptocurrencies with executives from Coinbase, FTX, Paxos and others

Cardano-based DEX announces launch date on test network

Jack Dorsey's Square company will change name to Block and focus on blockchain projects

Former U.K. Treasury chancellor says cryptocurrency could give London an edge over European rivals

Iota launches decentralized smart contracts platform to expand Web3 ecosystem

Snoop Dogg will build a mansion inside the Sand meta universe

VanEck applied to SEC to launch mining-ETF