Week Financial News

One of the major participants of the crypto industry on the investment and DeFi front, Polygon has been observing phenomenal growth over the past couple of weeks.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

Bitcoin (BTC) starts a new week and a new month on a cautiously positive footing after protecting crucial levels.

Monday

Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.

The crypto market has been in flux for the last couple of weeks, with upticks and downticks making a presence every now and then. However, the last six days have been very fruitful for the market as not only did the total market capitalization rise to $1.074 trillion, but altcoins like to yearn.finance [YFI]  also benefitted from the same.

France will experience another heatwave from Monday, with temperatures predicted to edge close to 40°C, according to weather forecaster Météo-France.

Bitcoin bounced back up to reach a six-week high of around $24,000 (€23,400) on Friday, signalling slight relief for digital currencies as they try to brush off “crypto winter’” amid the troublesome economic period.

Bitcoin (BTC) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro.

Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets.

Bitcoin has been on a downward trajectory in the last seven days after encountering resistance just above $24,000. The resistance retest confirms Bitcoin’s currently upward channel as it gradually recovers from the harsh downside in June.

Bitcoin (BTC) rose to a seven-day high above $24,000 this week. This is the highest price level of BTC since mid-June. However, BTC has found it hard to break higher, with a subsequent cooling pushing it to lows of $22,600 on Friday evening. Financial analysts have stated that the sentiment across the market is improving as the negativity heightened by recent turmoil dissipates. A similar pattern was observed in the price of Ethereum (ETH). It is currently consolidating above the $1,500 level. The price of ETH has faced resistance near the $1,600 level. The next possible resistance is near $1,700. The cryptocurrency market crash in June 2022 was spurred by momentary de-risking from Wall Street as several investors now feel highly pessimistic regarding the economy due to increasing inflation, a vulnerable stock market, and rising interest rates. In the last few months, the cryptocurrency market has increasingly tracked the stock market. This makes it more intertwined with global economic factors.

The Bitcoin (BTC) community, or “plebs” as they are affectionately known, are a force to be reckoned with. They banded together in less than 7 days to stack over $160,000 (7 BTC) in a “stackchain.”

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

The US Federal Reserve (Fed) is set to announce another significant interest rate hike on Wednesday this week, and crypto market participants are watching closely for any clues about how aggressively the Fed will move.

Bitcoin (BTC) enters a new week with a question mark over the fate of the market ahead of another key United States monetary policy decision.

U.S. stock futures fell slightly on Sunday night, coming off a positive week for the major averages, as traders brace for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.

The bulls are attempting to achieve a strong weekly close for Bitcoin (BTC), while the bears are attempting to regain their advantage. Analysts are closely watching the 200-week moving average which is at $22,705 and BTC's current setup suggests that a decisive move is imminent. 

Cardano has had a difficult journey in 2022. Despite showcasing strong development fundamentals, ADA’s price failed to reciprocate the same. This has been one of the reasons why ADA didn’t see a massive demand from investors in the recent rally.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

The mood across the cryptocurrency ecosystem is noticeably brighter on Friday after a week of gains helped traders put the events of the past two months behind them and look towards a positive future.