(5/15, Sat) btc closed flat one more day which means big move would come soon
Yesterday(5/14 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $49700, its lowest as $48887, its highest as $51533, its closing as $49887. Bitcoin maintained a small trading volume from the start of Friday and began to decline, reaching a low at 04:30, then cascading upwards, reaching a high at 15:15 and closing at a flat.
Yesterday's movement followed the NASDAQ chart as the previous day, but after 15:00, the NASDAQ rose while Bitcoin fell. Dominance continued to decline, falling to 40.7 where there was no bottom, but it is impossible to predict when it will rebound with no support line at all. If you look at the daily chart, it has risen above 100MA yesterday and then descends again, but considering that the daily trading volume is less than half of the previous day, it seems that there is still no reassurance.
In the cryptocurrency market, Dogecoin is being pumped with the support of Elon Musk, and other animal coins made by copying it are also traded in the market, creating a situation in which the entire cryptocurrency market is being made fun of. I geuss it does not give a good effect on the crypto market, and it is expected to have a great negative impact unless the regulatory body of one country regulate this kind of market manipulation.
Tether, the issuer of the stable coin USDT, disclosed details of its assets, and it is said that cash accounts for only 3.87% of the total assets and that it holds a large portion of it as corporate drafts and trust deposits. All cryptocurrency investors are curious about where all the cash equivalent to USDT issuance of 42.35 billion dollars has gone, and it is doubtful that Tether's assets will be able to respond to the demand for withdrawal of dollars.