Bitcoin has sideways at $17K since Last Week

Digiasset News Nov 16, 2022

The digital asset industry has experienced the most shocking in the last week with the collapse of the FTX exchange. Some coins dropped like a Bitcoin break below $20,000, cause of this sentiment. This chaos was important to remember that the digital asset was a free market and this does not represent a failure of the underlying cryptographic technology, it only not trust with one of centralize entities. So, there are not bail outs for Bitcoin.

Based on April to May, check below for bitcoin's balance on FTX Exchange reserves within had reached a peak of over 102K BTC. This declined -51.3% in late June. Reserves have since persistently declined until reaching effectively zero during this week.

The number of addresses that were active in the network either as a sender or receiver. Based on this data, starting from 2017 an average 750K actives ones. Check here for more detail

Based on data’s ( Nov 16th, 2022 ) CoinMarketCap in a last 24 hours BTC dropped down with -0.07% and ETH -0.23 %. Then, data on Illustration of Fear and Greed Index Crypto is still in fear category at level 23, mostly investors might not interest in BTC especially in spot market.

Market Analysis

BTCUSDT in a sideways average $ 17K for a week. US dollar index (DXY) was dropping to 104, its lowest level since last September. Maybe it will be a catalyst for bringing BTC higher. Keep your money management for good risk, although there is a good setup in the market for entry.

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