Bitcoins series of small gains

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoins series of small gains
FxPro | 855 dni temu

Market picture

Bitcoin continues its streak of small wins, recording its 13th consecutive day of gains on Tuesday, adding for 15 days in the last 16 sessions this year. The exchange rate rewrote a two-month high at $21.55K. Local overbought conditions continue to build, with help from the stock indices, where the Nasdaq100 managed to close Tuesday's trading higher.

Bloomberg strategist Mike McGlone said that the bottom in the crypto market has already been passed. He noted that the charts resembled the situation in 2018, although the macroeconomic situation is quite different. Back then, the Fed had already started easing its policy, but now it is a long way off, "so anything can happen".

It is easy to agree with this statement, but we still point out that growth is vulnerable to sharp declines at this stage. From a long-term investor perspective, we pointed out already in November that the crypto market has passed its low point. However, the best time for speculative buying is yet to come, when there will be a FOMO stage, like we last saw from December 2020 to April 2021. An even more colourful rise was from April to December 2017. In both cases, an acceleration and near-ubiquitous rise after surpassing previous historical highs.

News backgroundDigital currencies, CBDCs and stablecoins are the natural evolution of money and payments and will fundamentally change the global financial system, Bank of America believes. CBDCs "may become the most significant technological advance in the history of money".

According to a new analysis by mining company Luxor, Bitcoin is showing "resilience" amid the challenges it has faced in the past year. Macroeconomic pressures, natural anomalies, and the high volatility of some mining companies' shares (and, in some cases, their bankruptcy) have never been able to prevent the network's hash rate from rising significantly.

The European Parliament has changed the timetable for the European Union's Cryptocurrency Regulation Act (MiCA). Its final consideration has been pushed back to April. The 400-page document needs to be translated into 24 EU languages.

By the FxPro Analyst Team

Regulacja: FCA (UK), SCB (The Bahamas)
read more
Pound Falls, Euro Dips: May 22, 2025

Pound Falls, Euro Dips: May 22, 2025

Global financial markets on May 22, 2025, are shaped by persistent US fiscal concerns, mixed economic data, and geopolitical uncertainties. Hot UK inflation (3.5% YoY) lifts GBP/USD near a three-year high, while weak Eurozone PMI data (Composite 49.5) pressures EUR/USD and EUR/JPY.
Moneta Markets | 11g 55 minut temu
Dollar, Treasuries and stocks extend slide on fiscal concerns

Dollar, Treasuries and stocks extend slide on fiscal concerns

Dollar extends slide as Trump’s bill seen ballooning US debt - Treasuries fall as well, 30-year yield climbs to highest since Nov. 2023 - Wall Steet closes lower, gold and other safe havens gain - Oil pulls back as US and Iran prepare for new round of talks
XM Group | 13g 43 minut temu
Bitcoin confidently updates highs

Bitcoin confidently updates highs

Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin confidently updates highs
FxPro | 15g 32 minut temu