Santa Came Early In Crypto? Bitcoin Rally May Have Passed

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Tue, Tihema 6, 2022 3:05 PM

Santa Came Early In Crypto? Bitcoin Rally May Have Passed

Bitcoin saw positive price action recently but failed to follow through and could remain rangebound for December. The cryptocurrency rose from a new yearly low at $15,500, and market participants were expecting further profits, but the market has stalled. 

Ka rite ki tenei tuhituhi, Bitcoin is moving between $16,900 and $17,100. The cryptocurrency still maintains profits from its previous week, but today’s trading session has leaned towards the downside. 

No Christmas Miracle For Bitcoin?

I roto i te whakahoutanga o te maakete tata nei, te tepu hokohoko QCP Capital i tohua the positive performance of Bitcoin and Ethereum in December. These digital assets have been closely following the trajectory of the stock market.  

E whakapono ana te u kei te kaha te kaha o nga moni i runga i te tuara o te pivot pea a US Federal Reserve (Fed). I kii te umanga putea ki te whakatikatika i tana kaupapa here moni me te whakaiti i tana kaupapa piki reiti. 

This potential change triggered “strong” bullish momentum for the stock market, allowing Bitcoin and Ethereum to rise 13% and 22% in the past two weeks. Despite the collapse of FTX in November and the fear of contagion, its value is almost back to October levels. 

I roto i tenei horopaki, kua tere nga kaiuru o te maakete ki te karanga i te mutunga o te maakete pea, engari e kii ana a QCP Capital he take kei te pupuri tonu i te whakaheke. Hei tauira, ko nga raraunga ohaoha pakari mai i te US ka tautoko pea i te Fed ki te haere tonu i tana kaupapa here. 

I kii a QCP Capital i nga korero e whai ake nei mo nga mahi utu o naianei i roto i te maakete putea tuku iho me ona paanga ki te maakete crypto:

Ahakoa e kii ana te nuinga kei te heke iho te BTC me te ETH me te whai waahi, engari ki ta maatau e kii ana he nui rawa atu nga hua o te taurite, a ka hoki mai ano.

Thus, the possibilities of the stock market pushing down on Bitcoin and Ethereum are high. There are indications of possible downside pressure for stocks, crypto, and risk on assets. 

Ko te Kaitātari a Caleb Franzen i tohu ki te tohu VIX; he tohu e whakamahia ana hei ine i te pahekeheketanga o nga maakete putea tuku iho. Na tenei ine i homai he rautaki pakari mo nga kaihoko rawa morearea i te tau 2022. I kii te kaitätari: 

Ko te CBOE Market Volatility Index #VIX i hinga i raro i te 20 i tera wiki, engari kua piki ake i tenei ra! Ka rite ki taku korero mai i Akuhata, ko te rautaki matua o te tau 2022 ko:

• Hokona rawa morearea ina $VIX > 30

• Hokona rawa morearea ina $VIX <20

Regardless of the bullish expectations, the crypto market might see more selling pressure in the coming weeks. This month’s Federal Open Market Committee (FOMC) will shed more light on the direction of the macroeconomic landscape and the landscape for risk-on assets, such as Bitcoin. 

Kuputuhi taketake: NewsBTC