The crypto market has experienced a short-term local correction and continues to move cautiously upward. The most pronounced positive dynamics is noticeable among altcoins, however, there is no negative background with regard to Bitcoin. The reference cryptocurrency has been adding more than 3% over the past 24 hours and is trading at about $ 58,200, which can be considered a good result after a rapid plunge and rebound.
In world markets, the S&P 500 continued to rise after the Fed announced its continued stimulus policy. The main contribution to the growth of Bitcoin was made by large capital, which means that it will continue to do so.
Glassnode found that miners are saving mined coins in anticipation of price increases. Direct transfers to exchanges have dropped by 40% since mid-March. It is difficult to say what level miners and other investors are waiting for to take profits by putting their bitcoins away from the exchanges. Big capital and the situation in the global economy have created conditions for the development of growth.
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