The cryptocurrency market digest (BTC). Overview for 26.07.2023

The BTC price is hovering around 29,216 USD on Wednesday.

Currently, the flagship cryptocurrency appears weak, having lost 3% over the week, resulting in a moderate overall sentiment.

Intermediate supports are located near the levels of 29,050 USD and 28,600 USD. The upper boundary of the range is at the 31,150 USD resistance line. Unless significant news or triggers emerge, BTC is likely to remain within a sideways range.

Investors are closely watching the outcome of the US Federal Reserve meeting today. There is an almost 100% probability that the interest rate will be raised to 5.5% per annum. However, market participants are more interested in the regulator’s future steps, and that will be the focus.

The cryptocurrency market capitalisation remains at 1.180 trillion USD. The BTC share has dropped to 48.3%, and the share of ETH stands at 19.0%.

Google Bard:  BTC to rise in price after the halving

According to the findings of the Google Bard machine learning system, after the halving in 2024, BTC quotes could reach 100,000 USD. Apart from the halving’s direct effect on the price, Google Bard also sees the broader adoption of the leading cryptocurrency as a supporting factor.

Flashbots raises 60 million USD

Flashbots has raised 60 million USD with a valuation of 1 billion USD in a Series B round funding, which involved participation from major venture capital firms, L2 projects, and developers of decentralised applications. The funds are planned to be allocated to the creation of the SUAVE platform, aiming to facilitate fast and confidential transactions.