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Overview of the cryptocurrency market. March 5

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BTC. 12.3 thousand bitcoins were withdrawn from the Coinbase exchange at current levels, similar to the accumulation of the asset by large investors. The closing of the price below the moving average of 20 MA 4 H within the "Bollinger Bands" indicator was the first signal of the upcoming correction. After that, the instrument returned to the ascending trading channel marked on the chart, at the lower border of which bitcoin found a local bottom on February 28. At the moment, the price is consolidating under the correction level of 0.382 on Fibo ($47,337) over the accumulation block of $ 46,600, closing under which will send the asset to the test of the exponential moving average 200 EMA 4 H with a possible subsequent decline to $ 44,800. To develop an upward movement, you need to consolidate above the correction level of 0.382 on the Fibo ($47,337), the target will be a resistance block in the area of $ 49,000

ETH. Over the past day, the ether decreased in pair to BTC by 1.6 %. At the moment, the asset is trading above the support level of $ 1,450, the loss of which will direct the instrument to test the accumulation block at $ 1,375.The nearest resistance level is $1,575.

The Bitmex cryptocurrency exchange, which provides services for trading derivatives based on digital assets, plans to expand its range of services. The platform is considering adding spot trading and custodial services. Despite the problems that the exchange had with the US Futures Trading Commission in October 2020, the company's representatives expressed the exchange's desire to improve relations with regulatory authorities.

Once the largest cryptocurrency trading platform in terms of trading volume, it has set a course to win back lost positions. It is worth noting the laudable desire not to spoil the relationship with regulators, which is again important for the image of the entire industry. In theory, the more competing exchanges that try to diversify and improve the services provided, the better for the end user.

This is especially relevant against the background of the possibility to influence the price of the cryptocurrency from the largest exchange that promotes its own network. On February 19 and 23, Binance suspended the withdrawal of ETH and ether-based tokens, citing "network congestion", while blockchain analysts did not note any obvious problems in the Ethereum system. It is clear that ETH has objectively unsolved problems related to both scalability and the high price of transaction fees. The point is different, when it comes to big money, the idea of decentralization fades into the background.

The US stock market ended lower on Thursday, as the industry, raw materials and technology sectors led the way. At the close on the New York Stock Exchange, the Dow Jones fell 1.11 %, the S&P 500 index fell 1.34 %, the NASDAQ Composite index fell 2.11 %.

The decline in the total capitalization of the cryptocurrency market over the past 24 hours was 3 %, the dominance of the main cryptocurrency increased by 0.35 %. In general, another corrective impulse of digital gold to the levels is not excluded 44 000 — 44 800 $, which will lead to a decrease in the share of altcoin capitalization from the total value, it makes sense to wait for the situation to develop before making trading decisions.

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