Cryptocurrencies need a driver

Daily Cryptocurrency expert market comment from FxPro Analyst Alex Kuptsikevich: Cryptocurrencies need a driver

FxPro | Pred 1338 dňami

Cryptocurrencies need a driver

Market picture

Bitcoin has gained 2.8% over the past 24 hours to $19750 but remains broadly zen. Against the backdrop of falling equity markets, the first cryptocurrency's balanced moves looked like a sign of domestic strength. But yesterday, the equity market marked a sharper rise than cryptocurrencies.

Bitcoin is one move away from the top end of its trading range ($20300). But only a solid consolidation above this boundary should be considered a meaningful bullish signal.

Ethereum is lying at its 200-week moving average for the third week. Perhaps the entire crypto market lacks an important external driver to switch to growth, although no meaningful decline exists.

News background

According to CoinShares, investments in cryptocurrencies increased by $10 million last week. The figure rose for the third week in a row, but the scale of investment indicates continued indecision. Bitcoin investments rose by $8m, Ethereum by $6m, and investments to short bitcoin rose by $2m.

According to CryptoQuant, bitcoin outflows from cryptocurrency exchanges have recently intensified, which could be seen as a bullish signal.

US Senator Cynthia Lummis has expressed concerns about the national debt and rising inflation in the US. In her view, citizens should invest in bitcoin to preserve their funds.

According to Nomics, some 12,100 cryptocurrencies have effectively stopped trading this year, turning into "zombies". Technically, the coins exist but have not shown trading volumes for at least a month.

FxPro Analyst Team

FxPro

4.5

430 recenzií

Typ: NDD

Regulácia: FCA (UK), SCB (The Bahamas)

Značky: Analýza

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U.S. equities fell from record highs on Wednesday as rising oil prices and escalating tensions in the Middle East fueled inflation fears, prompting investors to take profits. The S&P 500 dropped 0.7%, the Nasdaq Composite slid 0.9%, and the Dow Jones fell 1.2%. Strong employment data increased rate-hike expectations, boosting the U.S. Dollar Index to its highest level since April 7.

ATFX | Pred 1 h 17 min

Market Observations: How Employment Data May Influence Macroeconomic Sentiment

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IUX | Pred 2 h 8 min

Gold Overtakes US Treasuries on Central Bank Balance Sheets

Finally, gold has surpassed the US Treasuries as the largest reserve asset held by the world's central banks. Years of record bullion purchases, combined with a powerful rise in gold prices, have reshaped the landscape. Whilst the USD remains dominant overall, the shift highlights a growing preference for hard assets amid geopolitical uncertainty and mounting concerns over sovereign debt.

Headway | Pred 12 h 44 min

Oil Surges as Iran Tensions Escalate While FX Markets Weigh Intervention Risks | 3rd June, 2026

Global markets remain cautious as renewed Iran tensions push oil prices higher and support the US Dollar. AUD remains pressured by weak GDP data, while CAD struggles despite rising crude prices. Meanwhile, USD/JPY and EUR/JPY face growing intervention concerns as traders closely monitor geopolitical developments and central bank expectations.

Moneta Markets | Pred 13 h 1 min

EBC Markets Briefing | Unease is growing in the hottest stock market

South Korea surpassed India as the world's sixth-largest stock market, driven by AI chip demand, strong exports and foreign investment.

EBC Financial Group | Pred 16 h 12 min

Today Technical Analysis: Gold falls below $4,500 on renewed US Dollar and oil strength

Gold has shifted back into a bearish short-term structure after failing to sustain its previous recovery. Following a rebound toward the $4,530 area, sellers regained control and pushed prices lower, resulting in a series of lower highs and lower lows.

STARTRADER | Pred 16 h 23 min

Today Fundamental Analysis: Stocks advance higher as investors remain optimistic in AI rally

U.S. stock futures were little changed early Wednesday after all three major Wall Street indices closed at new record highs on Tuesday. Futures tied to the S&P 500 and Nasdaq 100 traded near flat, while Dow futures edged slightly higher.

STARTRADER | Pred 16 h 36 min

Middle East tensions lift oil and dollar, Fed hike bets intensify

Dollar gains as Middle East tensions escalate - Inflation concerns intensify, Fed hike bets move forward - Dollar/yen tests 160 and pulls back amid intervention warnings - Wall Street hits record highs, gold falls back below $4,500

XM Group | Pred 19 h 16 min

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Funkcie

EURUSD	1.16089	GBPUSD	1.34293	AUDUSD	0.71289
USDJPY	159.859	USDCAD	1.39044	USDCHF	0.79079