Week 17 – Overview of fundamentals and markets

food prices, week 17

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 17. It should help you with jumping back on track. 

Fundamentals and expected events: week 17

Crypto markets: After another massive drop to a new low since the beginning of March, Bitcoin rebounded and added a nice $ 6,000. Most altcoins responded even better and showed double-digit gains. The ETH is thus almost at USD 2,500, while the BNB is approaching USD 550. The market capitalization of cryptocurrencies from yesterday’s low added more than $ 200 billion and has now jumped again to over $ 2 trillion. However, the Fear and Greed Index is at a minimum value for the last few months, at 27 points, marking fear, where it fell from the value of 74 points since last week only.

Stock and commodity markets: Financial markets are rather indecisive, awaiting the decision of the US Federal Reserve. Stock investors are beginning to worry about possible bubbles on the market, as the prices of many stocks are at historic highs, but the overall situation does not correspond to that. The S&P 500 index has gained 11.3% since the beginning of the year and even 5.2% since the beginning of April. The Dow Jones Index has added 11.2% since the beginning of the year and 3.2% since the beginning of the month. Surprisingly, gold and precious metals are not yet showing signs of recovery.

Important events: Expected events this week include meeting of the OPEC representatives, decisions on US interest rates by the Fed, as well as questions about possible tax increases in the US and other countries. In the USA, capital gains taxation is being addressed. According to the new proposal, people could pay up to 43.4%, which was also reflected in the price of Bitcoin, because in the US it is also subject to this tax.

Cryptomarkets and marketcap: week 17

The total crypto market capitalization reached the important milestone of $1,986 trillion on April 26.

Bitcoin’s price is currently $53,523.92.

Bitcoin’s dominance is currently 50.35%.

BTC/USD

The most actual price for one Bitcoin [BTC] is $53 718.21. Bitcoin is listed on 88 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $58 540 072 664, while the Bitcoin market cap is $1 004 096 492 509 which ranks it as #1 of all cryptocurrencies.

The bulls are trying hard to push the price back above the psychological level of $53,000 but are facing stiff resistance from the bears on every minor rise. This shows that the bears are trying to hold on to their advantage and extend the decline to the next critical support at $46,800.

Chart

CAKE/USD

The most actual price for one PancakeSwap [CAKE] is $32.48. PancakeSwap is listed on 4 exchanges with a sum of 9 active markets. The 24h volume of [CAKE] is $934 022 438, while the PancakeSwap market cap is $5,388,992,407 which ranks it as #28 of all cryptocurrencies.

PancakeSwap (CAKE) had been facing stiff resistance near the $34,5 level for the past few days. The bears tried to sink the price below the 20-day EMA ($24) on April 23 but the bulls aggressively purchased the dip, suggesting the sentiment remains positive. Momentum picked up in the past two days and the CAKE/USDT pair has broken out to a new all-time high today.

Chart, histogram

BNB/USD

The most actual price for one Binance Coin [BNB] is $535.85. Binance Coin is listed on 60 exchanges with a sum of 307 active markets. The 24h volume of [BNB] is $4 385 321 499, while the Binance Coin market cap is $77 745 229 071 which ranks it as #3 of all cryptocurrencies.

Chart, histogram

Binance Coin (BNB) is currently consolidating in an uptrend. The bulls are buying the dips to the $480 support while the bears are defending the $600 to $638.57 overhead resistance zone. A range-bound action after a strong uptrend shows that traders are not hurrying to book profits.

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