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 | 58% | 88 | $23 133.58 | 1.42% | 2.54% | $445 891 712 056 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 58.8% | 85 | $1 599.61 | 1.91% | -3.05% | $195 750 597 878 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000200 | 0% | -0.01% | $67 517 933 738 |  |
|
| 4 |  BNB |
Binance Coin predictions | 64.8% | 72 | $308.24 | 1.67% | 1.96% | $48 671 544 877 |  |
|
| 5 |  USDC |
USD Coin predictions | 92% | 1 | $1.000019 | 0.01% | 0% | $43 082 295 663 |  |
|
| 6 |  XRP |
XRP predictions | 67.2% | 74 | $0.411013 | 1.13% | 0.32% | $20 880 931 213 |  |
|
| 7 |  BUSD |
Binance USD predictions | 93.2% | 1 | $0.999820 | -0.03% | 0% | $15 795 578 015 |  |
|
| 8 |  ADA |
Cardano predictions | 60.8% | 79 | $0.388458 | 4.39% | 7.93% | $13 434 775 806 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 61.6% | 75 | $0.087652 | 3.23% | 1.90% | $11 628 821 575 |  |
|
| 10 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 62% | 78 | $1.15 | 6.09% | 12.97% | $10 037 291 413 |  |
|
| 12 |  SOL |
Solana predictions | 56% | 90 | $24.52 | 3.04% | -1.34% | $9 108 971 332 |  |
|
| 13 |  DOT |
Polkadot predictions | 57.2% | 87 | $6.59 | 3.20% | 5.92% | $7 587 320 916 |  |
|
| 14 |  AVAX |
Avalanche predictions | 54.4% | 92 | $20.97 | 17.46% | 21.07% | $6 601 353 493 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 59.6% | 84 | $0.000012 | 2.99% | -2.16% | $6 480 328 787 |  |
