Bitcoin rose 7.7% over the past week and was trading at $22.7,000 on Monday morning. Ethereum added less, just .1% to $1,6 0. Other top 10 altcoins are between 0. % (BNB) and 12.7% (Shiba Inu). The exception was Polygon (-1.8%). Bitcoin, BTC The total value of the crypto market increased by 5.1% for the week to $1.0 5 trillion, according to CoinMarketCap. The Bitcoin rally pulled the entire crypto market up. Meanwhile, BTC buying intensified after US stock indexes rose late on Friday. Like the good old days, the crypto market feeds the growth of stock indices, but grows ahead of the curve. In addition, the price exceeded $23,000 for the first time since last August due to reduced liquidity. Bitcoin has started a new bull market and is headed for $2 .8,000, centered around the psychologically important 200-week moving average and the 161.8% Fibonacci level from the December low. The 50-week MA leads in the same area. The market may need a long recharge and consolidation before starting a new uptrend. News Background Genesis Global Capital, the holding company of DCG, filed for bankruptcy and the case could be judged as early as January 23. According to Genesis, the company failed to pay more than $3.6 billion to its top 50 creditors. The company’s debts could reach up to $11 billion. The IMF has requested additional measures to regulate crypto markets to prevent cryptocurrency volatility affecting banks and financial institutions. The fund calls for the separation of virtual assets from traditional assets and to avoid replacing fiat currencies in the economy with crypto assets, especially stablecoins.

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