CryptoDigest. 26.11

The situation on the crypto market is controversial: it seems that bitcoin is stuck in a bearish phase. And so far there is no need to talk about an improvement in the situation. The coin went into a large-scale retreat last week. Then BTC won back some of the losses, and on Thursday evening there was a hint of a trend change. However, already on Black Friday, November 26, the correction not only resumed, but took on threatening forms. For the first time since early October, Bitcoin fell below the $ 54,000 psychological mark.

It’s time to discuss the market situation and technical indicators of the leading cryptocurrencies. And the authors of the Brand Analytics report, who have compiled a rating of the most popular virtual coins in Of Russia…

The topic of crypto regulation today seems to be relevant all over the world: here are the authorities South Korea decided to tighten control over the issuers of stablecoins.

Calm, only calm

Tonight – for the first time since October 6 – Bitcoin plunged below $ 54,000. It may not be bottoming out yet, as BTC has a chance to test lower values ​​during the North American session.

Ether (ETH) and Binance Coin (BNB) lost more than 8% in value and fell in price to $ 4,090 and $ 589.

Cardano (ADA), Solana (SOL) and XRP fell by almost 10% – to $ 1.57, $ 195.30 and $ 0.94541, respectively.

Polkadot (DOT) and Dogecoin (DOGE) crashed to $ 35 and $ 0.2034. Market capitalization fell to $ 2.47 trillion.

Against this crimson background, analysts remain calm and point to potential bullish signals. The evening volatility escalation occurred after the expiration of bitcoin options. At the same time, the interest in buying on the spot market is increasing, experts write at Santiment.

Meanwhile, social media users are massively publishing posts urging them to buy the drop. Instead of the expected panic, we see an increase in aggression. Most likely, today’s collapse was again organized by the whales, who decided to end the week with a decent profit in the cache. Within 24 hours, positions in the futures market were liquidated for an amount exceeding $ 660 million, and exchanges canceled positions of 165,000 traders.

The largest close – about $ 12 million – was recorded on ByBt on the ETH / USD position. On the Binance, OKEx and FTX platforms, positions for $ 284 million, $ 151 million and $ 894 million were liquidated, respectively, CryptoDiffer notes.

On Monday, we will present you with a more detailed analysis of the weekly results in the crypto derivatives market. The rates are likely to be moderately bullish in contacts with the late December and March execution dates. However, they can become frankly bearish if the spot market does not win back losses over the weekend.

Russian Internet users have bitcoin out of competition

The overwhelming majority of crypto enthusiasts with a residence permit in the Russian Federation are interested in bitcoin, according to researchers at Brand Analytics.

Throughout October, analysts studied social media activity and systematized publicly available messages. The conclusion is as follows: out of 2.4 billion analyzed public messages on social networks, more than 4.4 million are devoted to the largest digital currency. Amazingly, the leading altcoin – ether (ETH) – was not included in the top three cryptocurrencies of interest to the citizens of the Russian Federation.

The second and third places were taken by Tether (USDT) and Litecoin (LTC). In October, Russians dedicated 855,800 and 424,300 publications to these digital assets on social platforms. The air company was made up of lower rank tokens – XRP, Monero, Solana, Dogecoi, Travala and BowsCoin.

In October, Russian Internet users dedicated 100,000 or more posts to each of these coins. Brand Analytics reminds that Russia is one of the three largest bitcoin miners on the planet. Accordingly, the growing interest in crypto mining in Runet is the result of the desire of people to get as much information as possible on this topic.

But do not forget that the Russian authorities are not ready to give citizens the opportunity to use BTC to pay for goods and services. Representatives of the central bank and government periodically criticize Bitcoin and call it a financial pyramid.

And in Korea they tighten the screws

The South Korean authorities are gradually increasing pressure on the digital asset industry. Back in the spring, they “ran over” to the exchanges, demanding that they speed up the licensing process. Moreover, Seoul directly threatened the trading floors with closure while ignoring the government’s demands.

Then the regulators took up the NFT market and even began to prepare calculations for the taxation of transactions with tokenized assets. The Financial Services Commission of South Korea (FSC) released a statement reaffirming its previous tough stance and allowing sanctions against crypto companies and citizens who own digital assets.

On Tuesday, the regulator proposed amendments to consumer protection legislation. The National Assembly will have to approve them. In addition to strengthening control over issuers of tokens and stablecoins, the FSC has announced measures against crypto exchanges that manipulate the market.

Each company that issues tokens is required to provide detailed information about the financial condition and obtain a document that gives the right to work in the Korean jurisdiction. Despite the dissatisfaction of the crypto business, the FSC believes that the regulator creates a comfortable and legal environment for working in the market.

Sources: CoinTelegraph, CoinMarketCap, Santiment, CryptoDiffer, RIA Novosti, Brand Analytics