Musk has clipped the wings of Bitcoin
How long does forever last? Just over a year, if you're Elon Musk. Tesla has indicated in its quarterly report that it has sold three-quarters of its Bitcoins, citing uncertainty. The past selling does not change the market disposition, as all transactions have already been made. However, investor sentiment is perhaps the main driver in this market, where a mathematical algorithm governs issuance.
And this sentiment has been hit at a rather crucial moment. As a result of short-term investors' frustration, BTCUSD failed to break away from its 50-day moving average. The price stabilised at 23000 at the time of writing, hovering around this trendline. Failure to cross this line in a sharp move is a bearish signal. The closest development would be Bitcoin's return to the local support area at 19000.
Ethereum has lost 5.7% in the past 24 hours, to $1480. Leading altcoins have fallen even further, from -4% (Dogecoin) to 11% (Solana). Total crypto market capitalisation fell 3.6% to $1.03 trillion, according to CoinMarketCap.
According to CoinShares, capital inflows into crypto funds last week were $12.2m, with $14.8m coming into the funds on bitcoin shorts. Regular bitcoin products saw a net outflow of $2.6m.
The fall of the crypto market was caused by "greed, ignorance and misguided risk management", Galaxy Digital CEO Mike Novogratz said. He noted the collapse of the Terra ecosystem, which was the trigger for the subsequent problems of Celsius Network, Voyager Digital and Three Arrows Capital.
A bipartisan bill to regulate the crypto industry in the US could pass as a full-fledged document in 2023, Wyoming Senator Cynthia Lummis said. She said that some lawmakers would need more time to handle the topic. SEC chief Gary Gensler said the crisis in the crypto market would require a reworking of investor protection laws.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84.8% | 16 | $41 576.95 | 5.30% | 12.15% | $813 278 074 420 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 84.8% | 27 | $2 235.52 | 3.52% | 10.36% | $268 783 743 289 |  |
|
| 3 |  USDT |
Tether predictions | 90.8% | 1 | $1.000270 | 0% | -0.01% | $89 671 794 426 |  |
|
| 4 |  BNB |
Binance Coin predictions | 82% | 26 | $228.99 | 0.40% | 1.18% | $34 736 943 859 |  |
|
| 5 |  XRP |
XRP predictions | 79.6% | 30 | $0.619161 | -1.50% | 2.49% | $33 365 715 637 |  |
|
| 6 |  SOL |
Solana predictions | 65.2% | 67 | $61.81 | -2.64% | 12.13% | $26 228 006 615 |  |
|
| 7 |  USDC |
USD Coin predictions | 96% | 1 | $0.999862 | 0% | -0.03% | $24 495 724 959 |  |
|
| 8 |  ADA |
Cardano predictions | 83.2% | 28 | $0.401317 | 1.98% | 5.17% | $14 170 456 557 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 77.2% | 39 | $0.087341 | 3.07% | 10.22% | $12 410 677 949 |  |
|
| 10 |  STETH |
Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  TRX |
TRON predictions | 84.8% | 19 | $0.103487 | 0.21% | -0.87% | $9 160 263 969 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 84% | 21 | $0.103391 | 0.15% | -1.06% | $9 151 745 199 |  |
|
| 13 |  LINK |
Chainlink predictions | 75.2% | 43 | $15.58 | -2.52% | 8.92% | $8 673 186 738 |  |
|
| 14 |  TON |
Toncoin predictions | 85.2% | 20 | $2.42 | 0.07% | 1.16% | $8 291 917 227 |  |
|
| 15 |  AVAX |
Avalanche predictions | 56.8% | 87 | $21.88 | -0.53% | 6.31% | $7 991 965 891 |  |
