Bitcoin failed to hold above $24,000. Capital inflows into crypto funds slowed down last week. Mike Novogratz expects BTC to consolidate before the end of the year. The Tornado Cash Mixer was sanctioned by the US Department of the Treasury. Bitcoin was down 3.8% on Tuesday, ending the day near $23,200. BTC sank amid falling stock indices after failing to hold above the $24,000 level, at nine-day highs. According to CoinShares, net capital inflows into crypto funds slowed down last week to just $3 million. At the same time, Ethereum accounted for the most investments at $16 million. Investments in bitcoin funds decreased by $8.5 million; investments in funds that allow you to open shorts on bitcoin fell by $7.5 million. Galaxy Digital investment company CEO Mike Novogratz expects bitcoin to consolidate in the $20,000-$30,000 range by the end of the year, and is unlikely to exceed its upper limit. The crypto market is extremely dependent on the actions of the US Federal Reserve, in addition, the economy is in a “very difficult situation,” he said. Novogratz also recalled that the BlackRock giant recently entered into a partnership with the Coinbase crypto exchange, under which BlackRock customers will be able to trade cryptocurrencies. Some expect the potential growth of bitcoin on this factor. Circle blocked 75,000 USDC on Tornado Cash mixer wallets after it was sanctioned by the US Treasury Department. According to the agency, since the creation of the service in 2019, the attackers have laundered more than $7 billion worth of cryptocurrencies with its help. About $0.5 billion of them were associated with the activities of the North Korean hacker group Lazarus Group. The Reserve Bank of Australia, together with the Corporate Digital Finance Research Center (DFCRC), is launching a pilot project to explore options for the practical use of digital currency of the Central Bank (CBDC). Salvadoran President Nayib Bukele said that the legalization of bitcoin last year contributed to a significant increase in the tourism industry in the country. Iran conducted its first $10 million import operation, paid in cryptocurrency, bypassing the global financial system, limited by US sanctions. The State Duma is considering several bills to regulate the crypto industry. Legislators plan to levy taxes on cryptocurrency transactions and take mining out of the gray zone. Retail miners will have to apply for self-employment. Source: FXPro

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