Legacy markets continue to negatively impact Bitcoin price, but a positive sign is that the bulls have not allowed BTC to retest its June low.
The United States equities markets have started the week on a weak note as investors remain unconvinced that the Federal Reserve will pull back its aggressive monetary policy. The Nasdaq Composite index fell to its lowest level since September 2020.
All eyes will be fixated on the U.S. Consumer Price Index data for September to be released on Oct. 13 as that could influence the Fed’s decision on the size of the rate hike in the next meeting in November.
Depending on how the market perceives the reading, legacy markets and the cryptocurrency markets may witness a pick-up in volatility. A minor positive for the bulls is that Bitcoin (
) has not tested its June lows and has outperformed the Nasdaq and the S&P 500 in the short term.
A positive trigger could start a strong recovery in Bitcoin and select altcoins. Let’s study the charts of the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...