Over the last several days, the bitcoin has failed to break above resistance above $47,000, indicating a lack of rising momentum. Still, weaker support at $41,000 and $45,000 might help to keep the decline in check.

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Momentum indications on the daily chart remain bearish, as they were in early February. However, bitcoin has broken over $42,000 with bullish momentum on the weekly chart this time. As a result, buyers may stay aggressive on pullbacks.

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On the daily chart, the relative strength index (RSI) is declining from overbought levels, as it did in October of last year. Nonetheless, overbought indications might remain for a few months before a substantial market drop.

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Bitcoin fear and greed index on Friday, April 8, 2022, went from the fear level of 34 to the level of 37 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.      

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Bitcoin is currently trading at $43,729.27, up 0.68%. In the last 24 hours, the highest it touched was $43,889.40 and the lowest was $43,146.23. Bitcoin has a current market cap of $43,146.23. It has a circulating supply of 19,005,956.00 BTC coins and a maximum supply of 21,000,000 coins.

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FDIC requests all banks report their cryptocurrency activities

A top U.S. banking regulator has asked banks to report on their “crypto-related activities,” citing potential “safety and soundness risks as well as financial stability concerns” resulting from exposure to crypto-assets. On Thursday, the Federal Deposit Insurance Corporation (FDIC) issued a financial institution letter – a letter sent to CEOs of FDIC-insured banks – requesting that banks should notify their regional FDIC director of their crypto activities. This request applies to both current and future crypto-related activities. According to the letter, the FDIC will review the information, ask more questions if necessary, and then issue “relevant supervisory feedback.”