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Bitcoin Testing Bull Channel Lows
Bitcoin prices are seeing better demand across early European trading on Monday. However, on the back of the heavy decline suffered last week, it will be hard for bulls to feel optimistic here. The futures market plunged by more than 12% from the weekly high, now down more than 25% from the record highs printed in early October. The selling echoes the widespread losses we’ve seen across the crypto space in recent weeks, driven by a shift in traders’ Fed outlook and the broader risk-off tone to trading recently. Total crypto market cap has dropped sharply since October, now sitting around $3.3 trillion from the ... (full story)
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