Bitcoin’s breaking support
Bitcoin declined by 5.7%, ending the week at around $40,300. Ethereum lost 6.6%, while other leading altcoins in the top 10 fell from 2.9% (Binance Coin) to 17% (Terra). The exception was XRP (+0.8%). Monday began with a further 3.3% drawdown in bitcoin to $38.9K, which had fallen below its support line since January.
The signal for a break of the mild upward trend would be a consolidation below the $38K levels. If the bulls capitulate, the first cryptocurrency could be pushed into the $32-35K range without much resistance. A consolidation scenario below $30K would require an absolute disaster in the financial markets. We have seen steady and impressive demand from long-term buyers as we have fallen into this area.
The total capitalisation of the crypto market, according to CoinMarketCap, fell by 7.3% over the week to $1.81 trillion. The Bitcoin Dominance Index fell by 0.5% to 40.75% over the same period. The cryptocurrency fear and greed index lost 4 points to 24 by Monday, returning to “extreme fear” territory after two days of consolidation in “fear”. Bitcoin declined for the second week in a row under negative stock market performance.
Last week’s noticeable decline in BTC on Monday
Executives of the world’s largest crypto exchanges told CNBC that they have recently noticed signs of a “crypto thaw” regarding governments’ changing attitude towards cryptocurrencies. Portugal’s central bank has granted the country’s first crypto-asset license to a bank. Bison Bank became the first bank in Portugal to offer large customers cryptocurrency storage and trading services. Cardano founder Hoskinson suggested that Musk join forces to create a decentralised social network if Twitter does not come under the Tesla founder’s control.
Vlad Tenev, Robinhood’s CEO, said DOGE would become the most used cryptocurrency for Internet payments. However, to do so, developers must improve transaction processing speed.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84% | 26 | $18 928.29 | -1.09% | -4.04% | $362 675 162 554 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 69.6% | 54 | $1 294.66 | -3.51% | -5.75% | $158 627 858 840 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000070 | 0% | 0% | $67 959 464 596 |  |
|
| 4 |  USDC |
USD Coin predictions | 96% | 1 | $1.000014 | 0.01% | -0.01% | $49 594 307 856 |  |
|
| 5 |  BNB |
Binance Coin predictions | 90% | 15 | $274.74 | -1.09% | 1.13% | $44 325 985 527 |  |
|
| 6 |  XRP |
XRP predictions | 63.2% | 74 | $0.500514 | -0.70% | 26.97% | $24 950 009 051 |  |
|
| 7 |  BUSD |
Binance USD predictions | 92.4% | 1 | $1.000119 | 0% | 0% | $20 519 701 371 |  |
|
| 8 |  ADA |
Cardano predictions | 79.2% | 32 | $0.447321 | -2.92% | -3.50% | $15 312 533 995 |  |
|
| 9 |  SOL |
Solana predictions | 84.4% | 29 | $32.55 | -3.85% | 0.89% | $11 545 262 081 |  |
|
| 10 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 88.4% | 15 | $0.061629 | -4.48% | 3.07% | $8 176 334 390 |  |
|
| 12 |  DOT |
Polkadot predictions | 78.4% | 41 | $6.22 | -3.37% | -7.84% | $6 968 389 291 |  |
|
| 13 |  DAI |
Dai predictions | 93.6% | 1 | $0.999457 | -0.02% | -0.02% | $6 926 301 960 |  |
|
| 14 |  MATIC |
Polygon predictions | 73.6% | 55 | $0.746252 | -3.07% | -5.23% | $6 518 004 616 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 76.4% | 42 | $0.000011 | -4.47% | -2.59% | $6 105 472 299 |  |
