Market Wrap: Bitcoin, ETH and Defi-Wanted values ​​fall because investors concentrate on the downward movement

Market Wrap: Bitcoin, ETH and Defi-Wanted values ​​fall because investors concentrate on the downward movement

Bitcoin fell to well under $ 21,000 on Monday after it rose to $ 22,000 last Friday. The cryptocurrency fell by 2.2 % to $ 20,489, while Ether (Eth) fell by 3.1 % to $ 1,140 on Monday at 4:00 p.m.

The big decline in cryptoassets came after the Bloomberg Mliv Pulse survey showed that 60 % of the respondents thought that Bitcoin (BTC) would fall to $ 10,000, while 40 % saw an increase to $ 30,000.

The sectors that are most affected today is the decentralized financing (Defi). Maker's uniswapder token fell $ 8.17 % to $ 5.83, while the token of maker fell 4.09 % to $ 917.02. Aave token fell by 2.59 % to $ 75.47.

US shares also slipped, with the DJia 0.5 % lower at 31,173.84 Castle, while the S&P 500 decreased by 1 % and Nasdaq.

Despite the decline of the most important indices on Monday, Nicholas Colas, co -founder of Datatrek Research, believes that there could be even more upward potential at least at short notice. "The current upward movement for US large caps has to go a little further, but we already have most of the way through the 'typical' Bear Market Rally 2022 (increase by 6 % compared to 7-11 %)," he wrote in a Monday.

The oil prices temporarily continued their downward trend when China's new wave of Covid-19 cases increases. WTI-Rohöl for the delivery in August fell by 1.38 % to $ 103.34 per barrel, while the price of Brente-Rohöl (ICW) by 0.7 % to $ 106.27 for delivery in September fell Wallstreet Journal ’S real-time data.

The euro is still gradually approaching parity to the USD, since experts warn against an upcoming economic downfill in Europe.

"Germany, the industrial power plant in Europe, faces a dramatic decline in production thanks to the Russian threat of establishing natural gas, and France has just nationalized its national supply company to keep energy costs low." Michael Rosmer, CEO and co -founder of Defiyield, opposite Blockworks. "This will run through all markets, not only through crypto, but crypto and stocks will probably be exposed to the greatest volatility," he said.

"Even more investors are fleeing in safe facilities, which means that investors could expect further pain as a counterweight to economic struggles in Europe without positive news," added Rosmer.

Top stories

3AC founder silence, creditors go to court

• The founders of the crypto hedge fund Three Arrows Capital, Su Zhu and Kyle Davies, "have not yet started to work with foreign representatives in a sensible way," as a court document submitted last Friday showed.
• In a court hearing on Tuesday, Zhu and Davies were silent and invisible on a zoom call.

What could crypto-m & ​​a look like in the second half of this year?

• The merger and takeover activities in the crypto industry in the first half of 2022 exceeded the record pace of last year.
• "Many companies may not come due to [The Current Market Downturn] depending on how much money they have collected and what resources they have," said Kavita Guppa, founder of the Delta Blockchain Fund.

Financing round: Despite the bear market, money is still flowing into crypto

• Nexo expressed interest in the purchase of Vauld to accelerate his presence in Asia from Celsius.
• Rubix, a Layer 1 blockchain protocol for peer-to-peer data transmission and transactions, received an investment of $ 100 million from LDA Capital.

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The Post Market Wrap: Bitcoin, ETH and Defi Assets Fall as Investors Focus on Downside is not a financial advice.