The crypto asset market had a very positive week, in which a large part of the cryptocurrencies had a significant recovery, after reaching lows after a rampant bear market. The big question is, is the market beginning to recover or are we witnessing a correction for a subsequent bearish movement that ends up collapsing a wide variety of projects that are experiencing a critical situation? Speaking of which, one of these projects has declared bankruptcy, we’ll tell you which one below.

The cryptocurrency market ended a positive week, after some of the main cryptocurrencies, such as Bitcoin, had a rally of more than 10%. However, the idea of ​​the beginning of a bull market seems a bit far-fetched, since both the macroeconomic environment and the current situation with a wide variety of platforms, exchanges and DeFi protocols, show us a quite complicated picture in which many of these they begin to feel the effects and repercussions of the market crash. On Wednesday we will be able to know the inflation data from the United States, which generates a lot of concern among investors, after the generation of jobs in the North American country will exceed the expected figure in June, with a significant growth in wages. In the event that a higher than expected figure is presented, which if we remember today we are at maximum levels since the last 40 years, the effects on volatile financial markets, such as the stock market and crypto assets, would be negative and would mark the course for the short term of these markets. One of the most relevant news of the week in the world of cryptocurrencies was the bankruptcy of the cryptoactive platform, Voyager, which a few days ago had frozen its commercial activities. The worrying thing is that the company had reported that they had debts with more than 100,000 creditors, with a figure that was between $1-10 million dollars in crypto assets. However, this does not mean that all users with funds on the platform have lost their money, since the company filed for bankruptcy under Chapter 11 in New York, which consists of a reorganization plan that allows users be able to access their capital again. It is well known that uncertainty is growing more and more among investors, since it is very likely that we will see more of these cases in the coming weeks. In a case that looks a bit better, the Celsius platform would be very close to settling its debt with the Maker protocol, since it is reported that they have paid an amount greater than $140 million dollars, which reduces their default risk significantly. significant, since for this to happen Bitcoin would have to drop below $3,000. It should be noted that commercial activities on the platform, such as withdrawals by users, have been frozen for almost a month, so there is still that expectation and uncertainty about future measures and updates in the case.

In other slightly more optimistic news, the renowned technology and crypto asset venture capital firm, Sequoia Capital, would be raising funds for different startup projects, which could focus on the cryptocurrency ecosystem. Bitcoin starts the week above $20,400, having pulled back higher to a previous resistance zone. In case the next support is breached, the price of the asset could even go down to $17,000. Ethereum behaves in a very similar way, trading near $1,100. His destination seems to be around $900. Weeks with a lot of uncertainty and mixed news, so great volatility can be expected in the markets, so it will be important to take care of our capital and manage our risk correctly. Remember to keep an eye on the inflation data this Wednesday, which can be very important for the short-term future of the market. Without further ado, I wish you an amazing week.