Bitcoin and other cryptocurrencies plunged on Monday as investors continued to worry about economic growth, tight monetary policy and a collapse of the Omicron variant.
Bitcoin fell 8.7% to $ 46,000 on Monday. Ether fell 11% to $ 3,700 as other cryptocurrencies fell. For example, Solana lost 13% and Terra lost 14%.
Currently, Bitcoin is down 30% in 35 days, and has lost almost $ 23,000 after rising by around $ 69,000 in November. of technology.
Fundstrat Global Advisors reported on Monday: The recent rally is still bearish and the force remains strong and there are not enough signs of plans for a recovery.
Fundstrat expects the Bitcoin market to decline over the next 4-6 days as Bitcoin recently fell below $ 47,660 and the next indicator will be $ 41,634.
Ether also broke the key support of $ 3,900. Fundstrat said: A break above $ 3,900 would take the recent decline from the initial decline to $ 3,521, so it is important for Ether to maintain support in its recent rally measure.
A weak cryptocurrency can be affected in the short term. Since mid-October, short-term Bitcoin holders have risen by over 330,000, and some new currencies may run out. Since Dec. 1, global stock exchanges have raised more than $ 3 billion in long-term trades, according to data from Coinglass.
Open interest in Bitcoin futures has also declined, falling 4.1% in the past 24 hours, with a bond value of $ 17.2 billion. Cash inflows fell to $ 88 million from $ 184 million last week, from $ 306 million last week, according to data from Coinshares. The week ends November 29.
A settle-and-go deal means traders are squatting and wanting to strike the heart, that is, withdraw their money first and then prepare for a higher recovery. . The risk profile is wide and it may be difficult to swallow the current assumption.
More than a dozen central banks will meet this week to assess monetary policy and interest rates, while the Fed, including the Federal Reserve, will meet on Tuesday and Wednesday.
The economy has made it clear that Fed Chairman Jerome Powell could cause even more frustration. The upgrade is expected to begin in June 2022.
The tech equipment was on sale Monday pending a price increase as the price hike would affect the current share price in the near future. The bond market appears to be worried about a slowing economy, with the 10-year US Treasury yield falling from 1.49% to 1.43%.
Cryptocurrency can get stuck in the middle. The market has been hit as investors bet on lower inflation, slower trading and a better outlook for all asset risks in 2022.