Bitcoin (BTC) decreased 2.26% in the last 24 hours to $ 33,259 during intraday trading, according to CoinMarketCap. However, the ongoing repression of BTC mines in China has gained momentum, given that some Bitcoin miners have sales their holdings in order to raise the necessary capital to set up new holdings in other countries.

As a result, BTC transaction fees have decreased. Analytical company Arcane Research explained:

“Bitcoin transaction fees as a percentage of total miners’ income are now the lowest since June last year, although they fell hashrate and fewer inhibitions. “

Reportedly, Bitcoin chain transactions recently moved to a two-year low of 8843,054 when mining restrictions on Chinese encryption triggered FUD (fear, uncertainty and doubt) among investors.

Bitcoin has to get through $ 35,000

By to market analyst Michael van de Poppe:

“Bitcoin dismisses the crucial hurdle here. A breakthrough of $ 35,000 would mean a continuation to $ 38.5 million and perhaps $ 41,000. Rejection here means – the search for a higher low to confirm the ascending difference. Levels to be viewed; $ 33,000 and $ 31.5 thousand. “

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The analyst said $ 31.5,000 was vital because a higher low must be created for it to cause an upward gap.

An upward difference occurs when prices fall to a new low when the oscillator does not reach a new low. This situation shows that the bears are losing their power and that the bulls are ready to take over the market again.

Michael van de Poppe was before taken into account that if $ 31.5K were not supported, there would be another drop to the $ 24K range.

Meanwhile, the Bank for International Settlements (BIS) recently announced its full support for the development of central bank digital currencies (CBDCs) for financial and monetary stability through international cooperation, with a mandate and support; central banks.

CBDCs are digital assets tied to real-world assets, supported by central banks, which means that they represent a claim against the bank for exactly how the banknotes work. In addition, they are blockchain-compliant, representing a new technology for issuing central bank money at the wholesale and retail levels.

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