Bitcoin bulls scramble to defend $40,000 as the crypto market sell-off intensifies
BTC and altcoins were hit by another round of selling as analysts say a worsening macroeconomic climate threatens to push Bitcoin price below $40,000.
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BTC and altcoins were hit by another round of selling as analysts say a worsening macroeconomic climate threatens to push Bitcoin price below $40,000.
Multiple technical indicators suggest that BTC is preparing for a breakout, despite concerns about rising inflation and conflict in Ukraine.
The eerie fractal risks sending Bitcoin's price to $25,000 despite its sharp recovery in the previous weeks.
On-chain metrics detect strong "sophisticated passive buying" on spot exchanges and a rise in the movements of Bitcoin to whale wallets.
Inflows into the DeFi sector witnessed an uptick as the wider crypto market recovers and investor sentiment improves.
Analysts say record high inflation in the United States is impacting crypto market momentum, but is the impact of the data overstated to the detriment of investors?
BTC’s journey into the $43,000 to $46,000 price range could be another sign that the multi-month correction has ended.
"Since the end of the 19th century, there have been seven distinct currencies in the region that is now Czechia," says SatoshiLabs' in-house economist Josef Tětek.
Recent strength in BTC and the recovery in equities markets are boosting investors’ confidence and giving bulls the upper hand in Friday’s $860 million options expiry.
Inflation in the United States continues to rise as it climbed at its fastest rate in 40 years since February 1982. Statistics from the U.S. Labor Department’s Consumer Price Index…