The cryptocurrency trend was sharply negative over the past 48 hours, triggering liquidations exceeding $500 million over the past two days. The price of Bitcoin fell below $57,000, to a two-month low, as the Federal Reserve slashed hopes of rate cuts any time soon.
Inflation remains stuck at high levels, the Fed’s Chairman, Jerome Powell said, after keeping the US’ central bank’s benchmark rate unchanged at a 23-year high. An interest rate cut have is not likely to take place before September.
Analysts now await the release of the US April job figures tomorrow afternoon. The number of new jobs created is expected to have slowed down to 243,000 compared to March.
The price of Bitcoin lost 4.3 percent to $57,500 over the past 24 hours, to a level not seen since the end of February, Trading View’s Bitcoin chart shows.
🌤️ Mixed trading conditions lie ahead for the global crypto market in the next 24 hours, with bearish clouds lingering over Bitcoin, Cardano and Binance Coin, indicating further downside pressure. A bullish sun will, however, shine over Ether, Avalanche, Ripple’s XRP and many other altcoins covered by ATTMO.
🌥 Over a one-week horizon, bearish clouds are likely to sweep over most of the cryptoverse putting additional pressure on Bitcoin, Ether, Cardano… Dogecoin, Polkadot and Polygon are set to buck this negative trend as bullish sun is forecast to shine over them over the coming week.
Inflation remains stuck at high levels, the Fed’s Chairman, Jerome Powell said, after keeping the US’ central bank’s benchmark rate unchanged at a 23-year high. An interest rate cut have is not likely to take place before September.
Analysts now await the release of the US April job figures tomorrow afternoon. The number of new jobs created is expected to have slowed down to 243,000 compared to March.
The price of Bitcoin lost 4.3 percent to $57,500 over the past 24 hours, to a level not seen since the end of February, Trading View’s Bitcoin chart shows.
🌤️ Mixed trading conditions lie ahead for the global crypto market in the next 24 hours, with bearish clouds lingering over Bitcoin, Cardano and Binance Coin, indicating further downside pressure. A bullish sun will, however, shine over Ether, Avalanche, Ripple’s XRP and many other altcoins covered by ATTMO.
🌥 Over a one-week horizon, bearish clouds are likely to sweep over most of the cryptoverse putting additional pressure on Bitcoin, Ether, Cardano… Dogecoin, Polkadot and Polygon are set to buck this negative trend as bullish sun is forecast to shine over them over the coming week.
Find out more detailed forecasts at www.attmo.ai/