On the crypto market, we are witnessing quite a rare phenomenon when altcoins bounce back 5-18% after the slump, while Bitcoin barely started to grow. At the moment, the benchmark cryptocurrency is trading at around $9,800. The minimum point was at $9,500, where Bitcoin got the support of the buyers. However, it was not so impressive, as BTC failed to return above the threshold $10K level.
Crypto Fear & Greed Index rose by four points over the last 24 hours, though it remains in the “neutral” zone. The RSI halted its decline from the overbought territory. So far, the altcoin season is still in question.
Judging by the sharp jump in volatility, market participants suggest that all this may be an attempt of “whales” to squeeze out the weakest traders. Besides, the negative sentiment may have been affected by the statement of US Treasury Secretary Mnuchin on significant changes in the regulation of the crypto sector.
The FxPro Analyst Team
- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…
- WTI broke round support level 80.00 - Likely to fall to support level 76.00…
The monthly ADP labour market report showed that America created 192K new jobs in April, above…
Bears showed strength ahead of the FOMC decision. U.S. indices sagged on Tuesday as investors…
Market Picture Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…
- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…
This website uses cookies
