Investors are less and less confident in the imminent recovery of bitcoin

We close the week of red candles for most cryptoassets. The price of bitcoin per day increased by 0.5%, but the weekly dynamics was -6.3%. On-chain metrics do not play in favor of bitcoin: open interest in the futures markets has continued to decline since November 2021.

The daily volume of transactions falls by 18%, the sentiment of American retail and institutional, Korean investors is falling. Some investors believe less and less in the imminent recovery of the price of the first cryptocurrency.

Ethereum is growing by 2% per day, the working week closes at minus 4.4%. The best growth per day is given by CEL: +33.4% – an asset with a capitalization of $367 million is not so difficult to manipulate. Even against the backdrop of news that the company will return only 22% of the funds to its customers, the market does not worry.

We are waiting for macroeconomic data on the US labor market – if unemployment is below the forecast of 3.5%, the Fed will be tougher on raising the rate. Actual unemployment of 3.5% or higher will signal the effectiveness of the Fed’s measures to cool the US economy.

Index of fear and greed 25 – Extreme fear. Market capitalization – $984.56 billion. Bitcoin dominance – 37.84%. Altseason index – 90.