Bitcoin continued its failed attempts to rally above $23,000 on Wednesday, despite positive developments in US stock indices. At least the crypto market stalled after the rally at the beginning of the year. The total value of has decreased by 2.9% in the last 2 hours, but is still just over $1 trillion. Among major altcoins, Ethereum , , , loses 0.9%, with the rest between 2.9% (Litecoin) and 6% (Solana). Bitcoin Bitcoin’s $22 drop to 3000 today is part of a typical low from last week. A break below $22.2k would suggest a larger correction to the $20.5-$21.0k range. News Background According to Cathie Wood, CEO of Ark Invest, the cryptocurrency market will enter a new phase in 2023. The mindset of long-term investors will determine whether the current bitcoin rally is a bull trap or a strategic buying opportunity. , Glassnode believes. According to the cryptocurrency company B2C2, the first cryptocurrency must break the $25,000 mark to continue its growth. Once this milestone has passed, the „outsiders” will once again show interest in returning to the market. Bernstein said the rally is unlikely to continue as there are no signs of „new cash injections” in the crypto market. , legislators in the European Parliament voted in favor of stricter capital requirements for digital assets of banks holding cryptocurrencies in the EU.