Dear Readers,

With the sharp decline that we have witnessed by yesterday in the global crypto market, today we could see some recovery from it.

Following the US based  Crypto Financial Services - Matrixport's report that the SEC would reject the BTC EFTs, we have witnessed a sharp dip in the crypto markets. As the market leaders were deep dived into the red, all the other crypto tokens were also been dragged down. 

At the time of writing this article, the global cryptomarket is 1.68 Trillion USD, which is increase of more than 2.3% from yesterday.

The crypto market leader Bitcoin (BTC) trades at 44154 USD, a 3% up from yesterday. Ethererum trades at USD 2287, a up of 2.97% from yesterday.

It is a real relief for all of the investors that the BTC is trading above 44000 mark and expecting its rally towards the above. 

The Market Sentiment meter- fear greed index - which measures the sentiments by the market participants- is at 67 ( Showing Greed).

The overall BTC indicators are showing okay and good. 

However, the Relative Strength Index indicator as we can see both in BTC and in ETH charts, are approaching a cross below 50- which is an indication of bearishness on the BTC & ETH prices.

The MACD indicators of these crypto market leaders are also showing in the red zone- indicates a short term bearishness.

There are important ETF decisions are being lined up and the preparatory meeting are on. 

In the wake of BTC ETFs, the ex officials of Citi group staff have introduced BTC depository receipts. This is like American Depository receipts to foreign stocks. They plan to issue these BTC depository receipts to the qualified global Institutional Investors. They say that the nod from SEC is not needed for this BTC Depository Receipts. Let's wait for the adaptability and interest of these in the coming days from the global investment arena. 

This is seen as a major welcome move and trend in the adaptation of crypto eco-system from the traditional finance model. 

Another interesting aspect is that the world's first blockchain based marketplace, PUSHD coin presale is on which attracts all the crypto enthusiasts. We have covered this in the previous article in detail. You can access this here if you have missed it out- https://www.publish0x.com/learn-crypto-investments/worlds-first-blockchain-marketplace-pushd-tokens-are-at-pres-xpxxxpk 

Coming back to the crypto markets, the market may experience turbulence on both the ways.

Be prepared for the move in both the directions.