Macro Hold Tightens As Losses Spill Over To Crypto Market
The macro market has been influencing the price of crypto to a much larger degree in the last couple of months compared to a year ago. This is no surprise given that some of these companies, which are heavily involved in the macro market, also extended their investments to cryptocurrencies such as Bitcoin. Hence, when the macro environment affected these companies, crypto was affected. Even now, the influence continues to maintain hold. Losses Flow To Crypto Over the last week, there have been some major happenings in regard to the economy. Fed Chair Jeremy Powell said that as the....
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Bitcoin has been seeing a lackluster performance in the last couple of weeks, and crypto investors have responded in kind to this. After a couple of weeks of tethering above $20,000, the digital asset’s price had finally fallen below this important technical point, triggering outflows in the market. For the past week, institutional investors have continued to feel the fatigue in the market, so while there were outflows, they still remain quite muted. Bitcoin Loses $29 Million Bitcoin outflows have continued into another week. This has now brought outflows for the digital asset into three....
Bitcoin is still stuck in the $38,000 area with sideways movement during the past week. The first crypto by market cap has displayed resilience as traditional finances take a bearish turn. Related Reading | Bitcoin Holders Trigger Largest Capitulation In Its History, Bearish Horizon For BTC? At the time of writing, Bitcoin (BTC) trades at $38,400 with 1.1% losses in the last 24-hours. Tomorrow, the U.S. Federal Reserve (FED) branch Federal Open Market Committee (FOMC) will hold a meeting. Market participants expect the financial institution to announce a more aggressive shift in their....
Bitcoin has not had the best couple of things and altcoins have been subjected to the same fate too. The market has continued to succumb to pressure being mounted by various social issues, from the Canada protests to the brewing conflict between Ukraine and Russia. In all of this, however, bitcoin has mounted better resistance and this is apparent in the data. Bitcoin Holds Ahead Of Indexes Bitcoin has once again proven to be the best bet when the market is in turmoil. With the recent downtrend, all of the indexes have suffered, just like bitcoin, but the latter has held up better in the....
After the Bitcoin price retracement, XRP seems to have entered into another bearish trend that has sent it below $3 once again. However, despite the correction, XRP has continued to hold major levels, unlike Bitcoin, which has gone on to make new local lows. This suggests that XRP is performing differently from Bitcoin and could see a rally despite the Bitcoin price remaining low during this time. Why XRP Price Holding Above $2.9 Is A Good Thing So far, despite falling below $3, the XRP price has continued to hold above $2.9, which is a major macro level for the XRP price. As crypto....
Bitcoin has entered no man’s land as it fails to pass $11,000 but is holding the low-$10,000s. The coin now trades at $10,900 as of this article’s writing, again below the aoforementioned support. Bitcoin actually may be in a positive spot, though, as it managed to hold a pivotal technical level of macro importance. Bitcoin Holds Pivotal Macro Support Level To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. After […]