Fundamenta Aspect
Recently, the cryptocurrency market has developed a strong correlation with S&P500 and Nasdaq100 both of which have seen negative growth, resulting in a decrease in the value of cryptocurrencies. Meanwhile, The absence of bulls, and political tensions in Russia and Ukraine, have exacerbated the selling pressure on cryptocurrency prices.
Technical Aspect
The value of the world's largest cryptocurrency has dropped to a range between $ 39200 and $38,000. Following the closure of the New York market, the crypto market began to accumulate, which is a continuation of the negative trend that has worsened since then. Cryptocurrency experts believe that Bitcoin has broken through a critical key level of 40,000 and that the continuance of this trend suggests either more strength from sellers or a lack of interest from buyers. In contrast, the target price range of 36,000 to 36,500 will be a range of interest for buyers or bulls.
Recently, the cryptocurrency market has developed a strong correlation with S&P500 and Nasdaq100 both of which have seen negative growth, resulting in a decrease in the value of cryptocurrencies. Meanwhile, The absence of bulls, and political tensions in Russia and Ukraine, have exacerbated the selling pressure on cryptocurrency prices.
Technical Aspect
The value of the world's largest cryptocurrency has dropped to a range between $ 39200 and $38,000. Following the closure of the New York market, the crypto market began to accumulate, which is a continuation of the negative trend that has worsened since then. Cryptocurrency experts believe that Bitcoin has broken through a critical key level of 40,000 and that the continuance of this trend suggests either more strength from sellers or a lack of interest from buyers. In contrast, the target price range of 36,000 to 36,500 will be a range of interest for buyers or bulls.