Bitcoin declines along with risky assets ahead of the Fed’s rate decision on Wednesday. CME futures are putting significant pressure on BTC. JPMorgan customer demand for cryptocurrencies has dropped sharply over the past six months. MicroStrategy bought another 301 BTC in the fall of the market. Solana and Avalanche will outperform Ethereum in the next bull cycle. Bitcoin was down 2.8% on Tuesday, ending the day near $19,000 on the back of a rise in the US dollar and a renewed decline in stock indices. Despite the negative sentiment in the markets ahead of the announcement of the Fed’s decision on rates on Wednesday, BTC was able to keep from updating the lows of the previous day. Customer demand for cryptocurrencies has fallen sharply over the past six months, JPMorgan said. Most likely, this situation is connected with the fall of the crypto market. However, the bank is optimistic about cryptocurrencies and blockchain. MicroStrategy has purchased an additional 301 BTC for $6 million since early August at an average price of $19,851, according to a report submitted to the SEC. MicroStrategy’s previous investment in the first cryptocurrency took place in June – the firm acquired 480 BTC worth about $10 million. Popular cryptocurrency expert Willy Wu said that futures on the CME exchange significantly put pressure on bitcoin, and this is, to a large extent, political pressure. The SEC approves futures ETFs for cryptocurrencies, but prohibits the launch of spot funds. At the same time, hedge funds can short BTC indefinitely. Brian Armstrong, CEO of crypto exchange Coinbase, said that enforcement measures against crypto-currency companies are holding back the development of the industry. Real Vision founder Raul Pal believes that in the next bull cycle, the Solana and Avalanche cryptocurrencies, which have the original blockchains, will repeat the dynamics of Ethereum in the previous cycle and overtake the second cryptocurrency. The Solana network is now noticeably superior to ETFs in terms of the number of transactions. Spanish licensed trading platform EurocoinPay will launch crypto-currency debit cards with Mastercard, which will be available to all users of the exchange in the European Union. The US exchange Nasdaq is opening a cryptocurrency division that will offer customers services for storing digital assets, as well as tools to ensure the security of crypto companies. Valery Lyakh, Director of the Department for Combating Unfair Practices of the Bank of Russia, said that in Russia 60% of fraudulent payments are made in cryptocurrencies. Source: FXPro

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