Why Bitcoin Is Falling
Bitcoin is having its worst stretch in months. It has lost about 25% since October 21, touching as low as $62,112 this morning, with roughly $2 billion in liquidations in 24 hours. Sentiment is at the bottom too, as the Fear and Greed Index dropped to 10, which is Extreme Fear. (kriptofoni) (tokenpost)
Behind the move are three pressures. US spot Bitcoin funds shed about $1.9 billion over seven sessions. Also, Coinbase noted that rate futures now price about 64 basis points of Fed hikes over the next year, up from 37 earlier in November. Higher rates usually make risky assets less attractive. (bitcoinfoundation) (coinpaper)
Fear is high, so are emotions. What is your plan right now, buy, hold or wait? 👇
#UpdateBTC #NewsAboutCrypto
Bitcoin is having its worst stretch in months. It has lost about 25% since October 21, touching as low as $62,112 this morning, with roughly $2 billion in liquidations in 24 hours. Sentiment is at the bottom too, as the Fear and Greed Index dropped to 10, which is Extreme Fear. (kriptofoni) (tokenpost)
Behind the move are three pressures. US spot Bitcoin funds shed about $1.9 billion over seven sessions. Also, Coinbase noted that rate futures now price about 64 basis points of Fed hikes over the next year, up from 37 earlier in November. Higher rates usually make risky assets less attractive. (bitcoinfoundation) (coinpaper)
Fear is high, so are emotions. What is your plan right now, buy, hold or wait? 👇
#UpdateBTC #NewsAboutCrypto
