Yesterday's Market Analysis

We noted that the likelihood of a corrective drop had increased. Today, we see another attempt at growth, albeit this seeming more like a correction relative to the price's impulse drop from its historical maximum. In the end, this local growth was halted. The price is now finding support, approaching the $85,000-86,000 range. The further situation will depend on the traders' behavior in this zone.

US Crypto ETFs Outflow

In the US, crypto ETFs registered an outflow of funds for the first time since the election of Donald Trump as president. The pressure on Bitcoin relative to the US dollar was influenced, in part, by the rhetoric of the Federal Reserve Chairman during yesterday's speech. Jerome Powell noted that there is no need for an urgent rate cut.