Bitcoin DUMPS: The Biggest Overlooked Factor For Crypto Traders

6 gen 2022

Bitcoin has tumbled lower, as hawkish fed minutes permeate all markets. Before, Bitcoin traders did not have to worry about the Federal Reserve or know what 'hawkish' and 'dovish' mean, but with institutional holdings increasing, the influence of the Fed, is now a reality as we have seen twice lately. Bitcoin has smashed through our lower levels, finding support exactly at 43.8K, before edging lower testing support from 43.1K, below. This level does appear to be making an attempt to stop the bleeding, but 41.9K and 41.6K should provide further support if needed. These are among the last levels in the 40K handle, and if breached, there is a vacuum zone to 37.7K. If we can manage a relief rally, then 45K is the next target.