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Crypto markets weakened over the weekend, with bitcoin sliding for a third straight day and falling back toward $20,000 as of press time on Sunday.
"We continue to expect choppy price action," said Joe DiPasquale, CEO of BitBull Capital, in an email. "More strong bidding around the $17K level, if bitcoin falls there again, will be a strong signal for the bulls and may indicate the formation of a potential bottom around that price."
Traders this week will be watching for the latest U.S. consumer price index reading, expected Wednesday. The report could influence market expectations over the Federal Reserve's next move, at a meeting later this month; as of the last reading, inflation was at its fastest in four decades.
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