Bitcoin fell the most in 3.5 weeks on Thursday amid sharp declines in stock indexes and a strengthening US dollar. BTC rebounded to $17. ,000, losing 1.3% overnight. Ethereum at $1,270 shows the same extent of decline. The market capitalization of crypto business fell 0.7 percent to $852 billion. The pressure on cryptocurrencies came from the stock market, so assets with more institutions do worse than others. The Cryptocurrency Fear and Greed Index of fell 2 points to 29 on Friday and remains in „fear” mode. btc From a technical analysis perspective, Bitcoin failed to break above the 50-day moving average, which is now creating speculative pressure. However, such pressure usually lasts for a day or two, unless supported by external causes. The higher – weekly – time frame shows the development of the current bearish phase since the end of May. The RSI would form a bullish divergence because new low prices match the higher levels of the index. This may indicate a sell-off or consolidation of sellers before the next dip. Bitcoin News Background Cryptocurrency exchange Binance has enough liquidity to allow all customers to withdraw 100% of their funds when needed, company director Changpeng Zhao said. At the same time, he said that 99% of users need information to hold cryptocurrencies independently and therefore may lose their wealth. The FTX collapse caused less damage than the bankruptcy of the Terra ecosystem that preceded it, Chainalysis claims. Estimates of realized losses may be exaggerated, however, because every move from one wallet to another was considered a sale. ConsenSys, the company behind popular crypto wallet MetaMask, has announced a partnership with payment company PayPal to allow users to buy Ethereum.