SHAFAQNA TURKEY – Bitcoin, which started the new day with a rise, is testing the $28,500 levels, but is currently finding buyers in the $28,100 area. Ethereum also surged over 5% at just above $1,900.
The assessment, prepared by Bitay Research Analyst Alper Samet Yorak, includes developments in the crypto money market.
After the last three weeks of insufficient volume and exhausting investors, the new week started positively in terms of news flow. There will also be new events for the cryptocurrency market this week. The application of the US debt ceiling, which is the most important issue in the short term and puts pressure on all global markets, was suspended until January 1, 2025, and the problem was partially resolved in the short term. The news had a positive impact on the global markets and the cryptocurrency market received a reward of more than 5%, making it the most profitable investment vehicle in a short time.
On the other hand, last week news such as analysts at JP Morgan, one of the largest banks in the US, set a target of $45k per bitcoin, increased investment in cryptocurrencies in Asian countries, especially Thailand, licensing various exchanges, and making Dubai a global cryptocenter are in the spotlight. This week, events affecting the cryptocurrency market stand out as Hong Kong allows cryptocurrencies and exchanges to start operating domestically.
Inclusive policy started to apply
Asian countries that have previously published prohibitive interventions and measures in the cryptocurrency market, especially China, are moving away from this policy and are starting to pursue more inclusive policies. Cryptocurrency activity begins on June 1st in Hong Kong, which is an important country in Asian financial markets. Non-farm payrolls data will be released on Friday in the US, where markets are closed for Memorial Day. The data can be expected to have an impact on the cryptocurrency market.
The total crypto money market volume, which was about $1.11 trillion over the weekend, increased to $1.16 trillion with weekend purchases, and daily volumes are at $35 billion. However, the biggest risers over the weekend stood out as LINA, TOMO, KEY, BEL and ARPA.
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