Withdrawing Funds in Cryptocurrency Markets – Last Minute Turkey and World News

SHAFAQNA TURKEY- Bitay research department analyst Betul Yavuz assessed the developments.

US PPI data came in at -0.1% m/m versus 0.3% expected, raising expectations that the Fed will tighten less at its meeting next week. The banking crisis that started in America and spread to Europe announced that Credit Suisse, Switzerland’s giant bank, suffered a loss of 7.3 billion Swiss francs, or $8 billion, in 2022 financial and operating results.

The incoming data and news have triggered selling pressure in the US stock markets, and events paralleling the global markets have triggered rapid selling pressure following the rise of cryptocurrencies. The S&P 500 ended the day down 0.7% and the Nasdaq down 0.1%. In the Eurozone, stronger pullbacks were marked by Credit Suisse news. After the rise in the cryptocurrency market, there were rollbacks of about 5%.

Horizontal positive trend in altcoins

Although bitcoin has risen to the $25,250 level it has tested many times, it is moving around $24,460 this morning while Ethereum is also finding buyers at $1,650. On the other hand, altcoins are dominated by a horizontal positive trend.

The total value of the crypto market has increased by 2% and is moving at $1.04 trillion above the psychological resistance of $1 trillion. Bitcoin dominance continues to rise from 45.6% and Ethereum dominance at 19.4%. Today, ARPA and MASK stand out as the top growing cryptocurrencies in Bitay with double-digit returns.

US jobless claims will be on the world market radar today at 15:30 CET, followed by the ECB’s interest rate decision at 16:15. Market expectations are that there will be a 50 basis point increase. Lagarde’s performance will also be closely watched today.