Another working week is over. It was memorable only for the fact that the US GDP for the 1st quarter was +1.3%, while expectations were +1.6%.
🟡 The cryptocurrency market ends the week flat: +0.39%. BTC has been hovering around $70,000 all week, with growth restrained by reports of the distribution of assets of the bankrupt Mt. Gox. Altcoins continued to be in the accumulation zone (they have been there since early April). The volatility of cryptocurrencies is gradually increasing, but there has been no acceleration yet. There is also an accumulation of an increasing number of altcoins by crypto whales. The sideways trend may last for another couple of weeks or a month.
🔴 The stock market closes the week in the red zone, as mentioned in the last review. The S&P 500 fell by 1.09% and the Nasdaq by 1.17%. For no apparent reason, many tech stocks slipped on Thursday, likely a rebalancing of the end of the month. The equity market is preparing for the summer period — in June and July, trading volumes historically drop. Therefore, sharp movements will be rare.
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