<p>Market picture</p><p class=“MsoNormal“>Bitcoin has
been experiencing intense ups and downs this week but remains close to $28,000.
This dynamic is looks like a quarterly portfolio shakeout, and predicting the
next local move is difficult.</p><p class=“MsoNormal“>At the same
time, we note the slight downward slope of local highs and lows. The Q1
successes have created a demand for profit-taking. In the coming days, it is
worth keeping an eye on the trading range boundaries. </p><p class=“MsoNormal“>According to
CryptoQuant, the number of BTCs in exchange wallets is rising. Since the end of
March, traders have sent coins to exchanges to sell later.</p><p class=“MsoNormal“>An
accelerated decline at $27.5K would raise the prospect of a deeper correction
to $25K, where the price could go quickly. A consolidation above $28.5K would
indicate that the sideways trend of the last two weeks is over and that the
price is ready to move higher.</p><p class=“MsoNormal“>According to
CoinShares, investments in crypto funds increased by a modest $2.5 million last
week, following a $160 million increase the week before. Bitcoin investments
rose by $9 million, while Ethereum fell by $3 million.</p><p>News background</p><p class=“MsoNormal“>BTC miners
reported their best results since May last year. Bitcoin mining companies
collectively generated $755 million in revenue in March.</p><p class=“MsoNormal“>Two law
firms are suing Binance for $1 billion for promoting unregistered securities.
This is the second lawsuit against the exchange, on top of one from the CFTC
last week.</p><p class=“MsoNormal“>According to
Kaiko, Binance’s spot market share has dropped significantly in the past week.
The CFTC’s investigation could last for years, so the outflow of funds will
continue.</p><p class=“MsoNormal“>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“ rel=“follow“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

This article was written by FxPro FXPro at www.forexlive.com.

<ul><li>Looser stance can be achieved through lower bank rate today or in the future</li><li style=““ class=“text-align-justify“>Expects that with current high level of bank rate, it would require an earlier and faster reversal</li><li style=““ class=“text-align-justify“>That is to avoid a significant inflation undershoot</li><li style=““ class=“text-align-justify“>In the absence of further shocks, sees inflation likely falling well below target</li></ul><p style=““ class=“text-align-justify“>The message is definitely a bizarre one when you take into context double-digit inflation in the UK upon the latest reading <a target=“_blank“ href=“https://www.forexlive.com/news/uk-february-cpi-104-vs-99-yy-expected-20230322/“ target=“_blank“ rel=“follow“>here</a>. But she has been adamant that rate hikes have gone too far for a while now. I think it is really quite something to see such diverging views within the central bank – even at this stage of the tightening cycle.</p>

This article was written by Justin Low at www.forexlive.com.