Top Crypto Market Updates | March 03-04

byZero Gravity/March 4, 2022/inCrypto Market Updates, Crypto News, News

A round-up of the most interesting news stories on the cryptocurrency market in the last two days.

Bitcoin Analysis

After soaring to the top of the trading range between $36k and $46k, Bitcoin got sharply rejected as it failed to stay above the $43k support zone. Thanks to an increasingly volatile microenvironment, the cryptocurrency went from ~$45k to ~41k, losing about 10% in less than 48 hours.

Currently, Bitcoin is trading at $41,831, about $400 below its resistance level of $42k, as well as, the 100-hour simple moving average. Now that the cryptocurrency has broken its major support level, it could continue to move down to its immediate support near the $40,200 level. The next main support is at $40k, which once broken, could start a major decline in Bitcoin’s price.

On the other hand, if Bitcoin could break the initial resistance near the $42k level, we can expect it to move towards its key resistance level at $42,599 and the 100-hourly SMA.

A clear move above the key resistance could get Bitcoin to start afresh pace, in which, we can see its price surpassing $43k.

Ethereum Analysis

Ethereum had an encouraging start to the week but turned bearish in the last 48 hours. The cryptocurrency has lost over $200 during the period and is currently falling towards its critical support level at $2500.

Due to the price rejection at $3k, Ethereum is now looking weak and could easily drop to the $2500 level before we see it attempting for a breakout. The next crucial support is at $2675 on the downside, below which the price might gain bearish momentum. In the stated case, if Ethereum incurs more losses, we might see it moving towards its crucial $2500 level in the near term.

However, if Ethereum is to open the doors for a steady increase, the $2800 level is the first major resistance that the cryptocurrency should clear. The next major resistance is at the $2850 level and the 100-hour simple moving average. Once cleared, we can see Ether breaking $3000 = a crucial resistance zone for upward movement.

FCA to Initiate 300 Probes Against Unregistered Crypto Firms

The Financial Conduct Authority (FCA) of the United Kingdom announced yesterday that it has initiated investigations against unregistered companies within the country. It is done to combat widespread financial frauds like crypto assets, boiler rooms, and recovery room scams. Last year, the FCA received over 16,400 inquiries about possible scams. in the investing sector.

In addition to 300 probes, the authority is conducting about 50 investigations into regulated crypto firms, which are reportedly related to criminal activities, as well as, illegal businesses operated under the white-collar.

Crypto Exchanges are Unlikely to Bar Russians

Some of the world’s biggest exchanges, including Binance, Kraken, and Coinbase, have stopped short of a blanket ban on Russians, stating the action is against Bitcoin’s ethos, while some said it could also hurt citizens opposing the move by the Russian government.

Commenting on the matter, Coinbase CEO, Brian Armstrong said, “We are not preemptively banning all Russians from using Coinbase. We believe everyone deserves access to basic financial services unless the law says otherwise. Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too”.

Speaking with CNBC, a spokesperson at Binance, said, “We are not going to unilaterally freeze millions of innocent users’ accounts. “Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists.”

Ukraine Cancels the Hyped Airdrop; Reveals NFT Plans Instead

The government of Ukraine had announced that it’ll airdrop cryptocurrencies donated to the nation’s wallet. However, to everyone’s surprise, the country has now junked the plan. Vice Prime Minister of Ukraine, Mykhailo Fedorov confirmed the news yesterday by tweeting about the matter.

This move by the Ukrainian government comes after a fake account created 7 billion “Peach World Token”, which looked like an official airdrop token for crypto donors. However, no official report has surfaced that such tokens were the reason for an unexpected turn.

Nonetheless, Ukraine is now planning to support its armed forces by utilizing non-fungible tokens (NFTs), which the country plans to offer to donors.

Disclaimer:

The information discussed here is not financial advice. This is for educational and informational purposes only. DYOR before making any investments and consult your financial advisor. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

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Zero Gravity Crypto Follow 401 343

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; T @TorayKortan ·

17 Oct 1714257038019019143

😇

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; The Founding Monkey @Gav_Berry ·

27 Jul 1684589423692853248

If you read between the lines I think it’s pretty obvious that @elonmusk will be integrating @dogecoin into @X as the preferential payments solution. Most likely tied to ad spend and payments to creators also.

The 3 screenshots below have subliminal messages hidden within them…

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; Cointelegraph @Cointelegraph ·

8 May 1655644988175437824

According to a report from The Wall Street Journal, Chinese companies are studying methods to develop AI via weaker semiconductors and combinations of chips to bypass reliance on a single type of hardware.

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; The Founding Monkey @Gav_Berry ·

29 Apr 1652281882002718720

People seem to be forgetting that BTC.D generally increases in a bear market not a bull market.

In bull markets Alts out-perform #bitcoin and in bear market Alts capitulate harder than #Bitcoin

Don’t be so sure that an explosion on BTC.D means an explosion for #Bitcoin

99.9%…

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649391607798480897

Research shows that only a few #NFT projects will survive, those with Utility and those that are building vigorously throughout the Bear Market.

Fortunately we very much tick both of these boxes.

#Crypto Twitter, you have been warned on multiple occasions.

Tag your friends…

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649384569567625216

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; 🐒The Social Monkey🐒 @G_DMMC_83 ·

17 Apr 1647998662629261312

@crypto_bitlord7 @Gav_Berry is a 💎

Never fade @DrunkenMonkey

Very big things are already here, not all professionals are aware of the services owning a membership has.

Yet

I’m surprised you don’t own a few digital assets to be fair bro

🌍

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; The Founding Monkey @Gav_Berry ·

16 Apr 1647705698040414212

As this bear-market rally finally comes to a close, we have one last episode, and that is the bear market Alt season…

Stables > #Bitcoin > #Ethereum #Altcoins > Stables….

Remember the pattern…

Tight stop-losses, Let’s go 🚀

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; The Founding Monkey @Gav_Berry ·

4 Apr 1643345006214762502

ETH 2.0 Shanghai upgrade (Thread)

Liquidity Staking Derivatives (LSDs)

Here is the story - (1)

Most will be aware of the #ETH 2.0 and the #Shanghai upgrade which comes to fruition on April 12th. 18 million ETH will become unlocked on April 12th, will this cause a sell-off?…

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; Pomp 🌪 @APompliano ·

1 Apr 1642261068012564482

True entrepreneurs can figure out how to make money in any industry

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Crypto Prices

Bitcoin

$43,095.24

BTC -2.29%

Ethereum

$2,232.80

ETH -1.82%

Binance Coin

$229.97

BNB -0.92%

Cardano

$0.44

ADA 1.02%

Dogecoin

$0.09

DOGE -8.31%

XRP

$0.63

XRP 0.24%

Polkadot

$6.00

DOT 0.95%

Uniswap Protocol Token

$6.05

UNI -0.42%

Solana

$62.68

SOL -1.81%

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Top Crypto Market Updates | March 03-04

A round-up of the most interesting news stories on the cryptocurrency market in the last two days.

Bitcoin Analysis

Ethereum Analysis

FCA to Initiate 300 Probes Against Unregistered Crypto Firms

Crypto Exchanges are Unlikely to Bar Russians

Ukraine Cancels the Hyped Airdrop; Reveals NFT Plans Instead

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