Still Hope for Bulls: Crypto Daybook Americas

The cryptocurrency market is experiencing mixed sentiments, with privacy-focused currencies like Monero and Zcash declining over 4%, while major cryptocurrencies such as Bitcoin and Ether show resilience. Despite some downturns, analysts suggest that we are still early in institutional adoption and that inflows could significantly boost valuations. Zcash, lately, has been on a significant upward trend, rising over 500% since September but may be forming a bearish double top pattern, calling into question its stability. Regulatory developments, particularly around ETFs and stablecoins, are closely monitored as they could alter investor sentiment. Traditional market movements, such as rising Japanese bond yields in response to a new stimulus package, are impacting risk assets including cryptocurrencies. Key economic indicators are expected today, with Canadian inflation rates and U.S. manufacturing index reports on the agenda.

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