The cryptocurrency market fell at the end of last week

The cryptocurrency market fell at the end of last week. The capitalisation went down 3% in seven days to $2.21 trillion.

The cryptocurrency market capitalisation fell 3% over the past seven days to $2.21 trillion on Friday. After a dull start to the week, the market began to show signs of recovery on Thursday, with bitcoin bouncing off the 50-day moving average and a round level of $60K, attracting buyers. The cryptocurrency fear and greed index rose out of the fear zone into neutral territory.

Bitcoin began the week at $63.1K, quickly falling to the 50-day moving average and a round level of $60K, where it found support and bounced back sharply on Thursday. The cryptocurrency rose 1.5% from the start of the day on Monday to reach $63.5K, returning to test the 200-day moving average. A consolidation above would act as a bullish signal, indicating that the corrective pullback is over and buyers are taking over.

After rising above its 50-day moving average last week, ETH fell back to approach $2500 from below the average. The second-largest cryptocurrency found support at its 200-week moving average last week, as it has done so many times since mid-2012. That’s a good sign of accumulation by long-term buyers, but it's sure to disappoint short- and medium-term speculators, who were counting on another interaction with the 50-day moving average to propel ETH towards $3000.

After three weeks of inflows, outflows from spot bitcoin-ETFs in the US totalled $301.5m last week, according to SoSoValue. Cumulative inflows since BTC-ETFs were approved in January have fallen to $18.50bn. Ethereum-ETFs saw net outflows of $30.7m last week and have risen to $553.7m since product approval.

Binance continues to surrender its market-leading position among centralised exchanges (CEXs). According to CCData, Binance’s share of total trading volume on the CEX spot and derivatives markets fell to 36.6% last week - the lowest since September 2020.

A new documentary will reveal the identity of Bitcoin creator Satoshi Nakamoto, who is hiding under a pseudonym, on 9 October, according to Politico. The disclosure of Satoshi’s identity could shock the financial markets and affect the US presidential election, the publication noted.

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