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 | 67.6% | 59 | $103 090.04 | 7.54% | 7.84% | $2 040 210 476 450 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72% | 57 | $3 836.90 | 4.67% | 6.55% | $462 123 587 518 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $1.000611 | -0.01% | -0.02% | $135 773 947 858 |  |
|
| 4 |  XRP |
XRP predictions | 60% | 90 | $2.25 | -11.83% | 53.63% | $128 425 622 061 |  |
|
| 5 |  SOL |
Solana predictions | 70.8% | 62 | $233.16 | -1.99% | -2.99% | $110 833 879 897 |  |
|
| 6 |  BNB |
Binance Coin predictions | 84.8% | 25 | $714.72 | -5.07% | 9.56% | $102 925 874 853 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 64% | 77 | $0.438799 | 5.41% | 6.97% | $64 533 538 083 |  |
|
| 8 |  ADA |
Cardano predictions | 58% | 87 | $1.18 | -2.83% | 17.06% | $41 330 413 929 |  |
|
| 9 |  USDC |
USD Coin predictions | 95.2% | 1 | $0.999875 | -0.01% | 0.01% | $40 710 275 845 |  |
|
| 10 |  TRX |
TRON predictions | 74% | 48 | $0.315468 | -19.00% | 57.65% | $27 219 987 446 |  |
|
| 11 |  AVAX |
Avalanche predictions | 62.4% | 86 | $50.93 | -2.17% | 17.89% | $20 846 497 893 |  |
|
| 12 |  SHIB |
SHIBA INU predictions | 72.4% | 51 | $0.000031 | 4.01% | 20.77% | $18 338 952 316 |  |
|
| 13 |  TON |
Toncoin predictions | 65.2% | 78 | $6.75 | -1.91% | 6.74% | $17 203 006 453 |  |
|
| 14 |  DOT |
Polkadot predictions | 57.2% | 91 | $10.25 | 2.52% | 24.55% | $15 631 722 248 |  |
|
| 15 |  LINK |
Chainlink predictions | 57.6% | 88 | $23.58 | -1.83% | 30.47% | $14 783 602 206 |  |
