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Despite the FED meeting on Wednesday revealing a wider gap between rate cuts and rises, The majority of cryptocurrencies are following Bitcoin, the most valuable digital asset, in a downward trend. Recent sources indicate that Bitcoin decreased by roughly 3.3 percent from the day's opening price to conclude the day's trading at $26.3K, dimming hopes for a speedy recovery. Further, a number of technical indicators suggest that the haemorrhage will continue, maybe reaching $25,000.
The price of bitcoin is currently trading below the 200-weekly moving average (MA) for the second time since the breakout in March. The weekly death cross between the 50 and 200 MAs, which is steadily settling into place, is on cryptocurrency traders' minds. The bitcoin market is therefore expecting further volatility between $15.4k and $31k.
The price of bitcoin is currently trading below the 200-weekly moving average (MA) for the second time since the breakout in March. The weekly death cross between the 50 and 200 MAs, which is steadily settling into place, is on cryptocurrency traders' minds. The bitcoin market is therefore expecting further volatility between $15.4k and $31k.
