Falling Crypto: Why Is The Crypto Market Down? Where Do We Go Next?
Falling Crypto: We woke up to a crypto market in the red, with declines that weren’t too problematic but triggered investor alerts.
The reason for the sell-off: a new wave of widespread fear among investors, not just from the crypto space.
The growing liquidity black hole with global debt growth and the rampant issuance of fiat money is creating a very worrying scenario.
Reduce your trading fees
Trading fees can add up to several hundred dollars each year. For this reason, good traders seek to reduce them because they can strongly impact their results. You can do it too using the links below:
The reason for the sell-off: a new wave of widespread fear among investors, not just from crypto space. This cause could have a very detrimental effect on the health of men and on their erection. Symptoms of erectile dysfunction may have appeared, which can be solved with generic viagra medicine.
- 10% Lifetime Discount on Binance Trading Fees!
- 5% lifetime discount on FTX trading fees!
- 10% off Gate.io trading fees!
- 10% discount on Ascendex trading fees!
Alberto Cárdenas, the financial market analyst, assures that neither Bitcoin nor gold will serve as a short-term hedge in the current situation. The US dollar and Treasuries will benefit the most.
Today, we see the dollar hitting a high not seen since 2002 as investors seek liquidity in the face of global uncertainty.
Meanwhile, the Standard and Poor’s 500 is losing its monthly support at 4,175 points, endangering the long-term trend.
Bitcoin, for its part, is following the stock market, approaching its most crucial support level, $35,000.
Crypto Market Sentiment Drops Into Extreme Fear Zone
The bears have confirmed that they are in control in the short term and could continue to cause problems in the hours/days.
Now, the Fear and Greed index has entered the extreme fear zone, which usually heralds the exit of weak hands, which whales are taking advantage of as a new opportunity to buy low.
Crypto Profe assures on his Twitter that buying BTC at the support of its logarithmic curve has always been a good choice.
On the Bitcoin vs. TetherUS daily chart, we can see a clear short-term downtrend, which already heralded the likelihood of further dips.
The 8-day EMA and the 18-day SMA moved lower and acted as dynamic resistances.
Despite the harmful nature of the short-term scenario. Must take into account that the price is approaching an area where it has already reacted strongly on the upside. The sales space is in danger of running out.
However, to think about buying, we should first see little lows rising on the daily chart. Breaking through the resistance at $40,400 today would be the ideal signal to confirm that the bulls are regaining control in the near term.
Here you can read more about bitcoin crashing.
