Why did the encryption market decrease today? star-news.press/wp

The total maximum Crypto (total) market has decreased by more than 196 billion dollars, along with Bitcoin (BTC), which is circulating at $ 103,500. High tensions in the Middle East affect global stock markets, as Israel struck Iran on Friday. Among Altcoins, Ethena (Ena) emerged as the largest losing, decreased by 18 %.

In the news today:-

• Ripple and SEC made another proposal to resolve their legal battle on the right to sell securities. Legal experts doubt that the proposal will succeed, and if it is rejected again, Ripple may have to accept a ban on the sale of securities to retailers.
• Brazil provided a new encoding tax policy under temporary measure No. 1303, and imposed a 17.5 % tax on all encryption profits. This change reduces the tax burden on large investors, while small traders have been exempted or pushed to 22 %.

The encryption market disrupted

The total ceiling of the encryption market decreased by $ 196 billion, and it is now $ 3.17 trillion. Nevertheless, the market exceeds the level of decisive support of $ 3.16 trillion. There is a declining trend, but if the conditions improve, the market may recover above this support level.

The clouds are the result of Israel targeting the Iranian nuclear and military targets and the launch of attacks on the country. Global financial markets have suffered and are likely to continue to do this at the weekend.

If the market is withdrawn, the total ceiling of the encryption market may decrease to less than the support level of 3.16 trillion dollars. In this case, the next support level is located at $ 3.09 trillion. However, if the situation stabilizes, the recovery of more than $ 3.16 trillion can pay the market about $ 3.21 trillion, which restores the investor confidence.

Bitcoin decreases to less than 105,000 dollars

Bitcoin decreased by 4.7 % today, as it was traded at 103,519 dollars, after losing the support level of $ 105,000. King Cryptocurrency is now the following support at $ 102,734. This contraction is the result of weakening the market feeling, which indicates another possibility on the negative side if the declining momentum continues in the coming days.

The Relative Power Index (RSI) refers to the bottom of the neutral sign of a bitcoin dumping momentum. This can push BTC to less support 102,734 dollars, with the next main level at $ 100,000. In the event of this, this will represent a continuation of the current dignitarian formation of the digital asset.

However, if the hybrid pressure erupted within the next 24 hours, Bitcoin may refresh from the support level of $ 102,734. This Bitcoin recovery will allow the 105,000 dollars resistance to re -test, which will nullify the homogeneous expectations.

Investors Etheina face losses

Ena has witnessed a sharp decrease by 18 % over the past 24 hours, as it has been trading at $ 0.282. This decrease prompted Altcoin to test the support level of $ 0.273. If the sale of the sale continues, the Ena may struggle to get this support, leaving altcoin vulnerable to increasing the negative side in the short term.

The challenge facing Ena is now with investors whose losses are increasing. If Altcoin fails to maintain its support of $ 0.273, there is possible an additional decrease to $ 0.262. Such a step can indicate long trague, with the growth of homosexuality between the market participants if the loss of installation continues.

However, if Ena succeeds in wearing $ 0.273 support, this may lead to a possible recovery. The strong investor’s support will be the key to this recovery, allowing Altcoin to rise about $ 0.315. The violation of this level would indicate the nullity of the current declining direction.