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Headwinds knocked down Bitcoin & Ethereum
The crypto market is losing about 4.5% from its peak on Friday, having reversed to the downside after news positive for the dollar. Another batch of labour market figures well above expectations has raised doubts that the Fed will soon follow the ECB and Bank of Canada in cutting rates. This shift in sentiment has reduced risk appetite, hurting cryptos. Bitcoin failed its attempt to climb above $72K on Friday, pulling back below $70K. We haven’t yet seen an acceleration of the first cryptocurrency’s rise after breaking downward resistance. On the other hand, selling is also not gaining momentum. Clearly, the ... (full story)
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- Posted: Jun 10, 2024 7:50am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 234
