Insight #5

This week, we dive into the state of the bull market, assess real demand for high-priced coins, and analyze the latest market trends. Is the consolidation nearing its end?

Welcome to the fifth issue of Adler's Crypto Insight.

Today, we will discuss the following topics:

1. Market Review.

2. Why hasn't the bull market ended?

3. What is the real demand for previously expensive coins?

4. The end of consolidation and the support level.

5. Conclusions.

Throughout the week, Bitcoin traded in the $61-56K range without forming a clear trend. It was essentially a very calm trading week. The resistance was the 200-day SMA at $68.2K, above which the price failed to hold.

An interesting event this week was the news from Dubai, which recognized cryptocurrency as an acceptable method for salary payments, indicating the growing adoption of digital currencies.

Another significant event involved ETFs: BlackRock surpassed Grayscale in assets under management, driven by an outflow of funds from Grayscale and an inflow into BlackRock. Additionally, Grayscale appointed a new CEO. If you're not aware, the previous CEO, Michael Sonnenshein, launched a Bitcoin trust and attracted subst…