What is moving the market
The overall market sentiment is neutral, with an average sentiment score of 0.03. News regarding regulation in Canada and Hong Kong, along with a planned upgrade for Zcash, is creating some activity. However, concerns about US crypto legislation and a recent exploit at a lending protocol are slightly dampening the mood.
Biggest risk
Bitcoin shows mixed signals, with its supply on exchanges at its lowest since 2017, suggesting potential accumulation. Simultaneously, Bitcoin is called a 'screaming buy' by Standard Chartered with a $100K price target, despite also being considered 'oversold' against gold. The ETF market for Bitcoin and Ethereum is showing positive signs after 8 weeks.
