Professionals may fake the breakouts this week

Without a major trigger, Bitcoin prices have been range-bound in 2022. While long-term investors seem to be accumulating on dips, the short-term traders who have purchased at higher levels may be liquidating their positions on rallies near $47,000 to “get their initial investment back,” said Brett Munster at Blockforce Capital.

During this period of uncertainty and high inflation, Tesla CEO Elon Musk advised his followers to “own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.” Musk added that he owns Bitcoin, Ethereum and Dogecoin and does not plan to sell his crypto holdings.

Hello, welcome to this week’s 225th edition of Cryptonaire Weekly Magazine. The global crypto market cap is $1.73 Trillion, up $10 billion since the last week. The total crypto market trading volume over the last 24 hours has increased by 9.85% to $72.84 Billion. The DeFi volume is $12.45 Billion, 17.10% of the entire crypto market’s 24-hour trading volume. The volume of all stable coins is $61.60 Billion, 84.56% of the total crypto market’s 24-hour trading volume.

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