Still Hope for Bulls: Crypto Daybook Americas

The cryptocurrency market faces a mixed sentiment as major cryptocurrencies like Bitcoin and Ethereum show resilience, while privacy coins such as Monero and Zcash have declined by over 4% in the past day. Despite recent market pressures, the CoinDesk DeFi and Smart Contract Indices have seen gains, indicating growth in certain sectors. Zcash has surged over 500% since September but is showing signs of a bearish pattern, raising concerns about future price movements. Analysts suggest that as institutional adoption of cryptos evolves, substantial inflows could vastly increase valuations. Observers are urged to keep an eye on U.S. regulatory developments related to exchange-traded funds and stablecoins that may influence investor sentiment. In traditional markets, rising Japanese government bond yields could pressurize risk assets, including cryptos. Key events to watch include inflation data releases and Fed speeches that may affect market dynamics in the days ahead.

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