Bitcoin seeks support
Bitcoin lost 3.8% on Tuesday, ending it at around $23.2K, and is developing a decline to $22.9 by Wednesday morning. Ethereum has lost 5.6% in the last 24 hours, to $1680. Top altcoins are down 2.5% (BNB) to 7.2% (Solana). Total crypto market capitalisation, according to CoinMarketCap, fell 3.9% overnight to $1.08 trillion.
The recovery in stock indices has choked, but even earlier and more dramatically, these changes have affected Bitcoin and the whole crypto market. Should the decline develop, investors and traders should pay close attention to the 21500 area, where the previous local lows are concentrated.
A dip below that and a decisive return below the 50-day average could well be the start of a new wave of decline that could take the crypto market to new lows. At least, there might be a test of the June-July lows.
News background
According to CoinShares, net capital inflows into crypto funds slowed to $3m last week, with Ethereum accounting for the most investments at $16m. Funds investing in bitcoin lost $8.5m; those allowing shorting it faced $7.5m in outflows. Michael Novogratz, CEO of investment firm Galaxy Digital, expects bitcoin to consolidate in the $20,000-$30,000 range for a while.
Circle has blocked 75K USDC on Tornado Cash mixer wallets, which have come under sanctions from the US Treasury. According to the agency, attackers have laundered cryptocurrency worth more than $7 billion since its inception in 2019, with about $0.5 billion linked to the North Korean hackers Lazarus Group.
The Reserve Bank of Australia is working with the Digital Finance Corporate Research Centre (DFCRC) to launch a pilot project to explore options for the practical use of CBDC digital currency.
El Salvador President Nayib Bukele said the legalisation of bitcoin last year contributed to significant growth in the country's tourism. Iran conducted its first import transaction worth $10 million paid in cryptocurrency, bypassing the global financial system restricted by US sanctions.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 83.6% | 25 | $58 010.04 | -3.14% | 1.59% | $1 145 986 154 740 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 75.6% | 46 | $2 283.07 | -3.85% | -2.80% | $274 743 495 082 |  |
|
| 3 |  USDT |
Tether predictions | 92% | 1 | $0.999852 | -0.06% | -0.02% | $118 767 628 564 |  |
|
| 4 |  BNB |
Binance Coin predictions | 78.8% | 33 | $533.55 | -4.20% | 2.67% | $77 863 716 781 |  |
|
| 5 |  SOL |
Solana predictions | 79.2% | 41 | $131.19 | -1.76% | -2.69% | $61 424 719 259 |  |
|
| 6 |  USDC |
USD Coin predictions | 90.8% | 1 | $0.999835 | -0.03% | -0.01% | $35 525 557 620 |  |
|
| 7 |  XRP |
XRP predictions | 81.2% | 36 | $0.589479 | 0.92% | 9.39% | $33 238 390 390 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 81.6% | 28 | $0.099572 | -5.55% | -4.09% | $14 535 919 490 |  |
|
| 9 |  TON |
Toncoin predictions | 72% | 59 | $5.44 | -3.82% | 4.74% | $13 770 830 393 |  |
|
| 10 |  TRX |
TRON predictions | 82% | 23 | $0.148531 | -0.38% | -3.97% | $12 876 166 191 |  |
|
| 11 |  ADA |
Cardano predictions | 80.8% | 35 | $0.330194 | -3.64% | -4.04% | $11 873 977 343 |  |
|
| 12 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 94.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 91.6% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
|
| 15 |  AVAX |
Avalanche predictions | 73.2% | 52 | $23.51 | -3.59% | -2.84% | $9 543 020 680 |  |
