Santa Came Early In Crypto? Bitcoin Rally May Have Passed

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Aso, Tesema 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. 

E pei o lenei faiga tusitusia, 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 se fa'afouga lata mai o maketi, kesi fefa'ataua'iga QCP Capital faamamafaina the positive performance of Bitcoin and Ethereum in December. These digital assets have been closely following the trajectory of the stock market.  

E talitonu le kamupani o loʻo faʻaalia le malosi i tua o le US Federal Reserve (Fed) pivot. Na fa'ailoa mai e le fa'alapotopotoga tau tupe le fa'atonutonuina o ana faiga fa'avae tau tupe ma fa'aititia lana polokalame si'itia fua tului. 

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 lenei tulaga, o tagata auai maketi ua vave ona valaau atu i le faaiuga o le maketi urosa, ae fai mai QCP Capital o loʻo i ai mafuaʻaga e tumau ai le faʻaituau. Mo se faʻataʻitaʻiga, o faʻamaumauga malosi mai le US e ono lagolagoina le Fed e faʻaauau lana faiga faʻavae. 

Na taʻua e QCP Capital mea nei e uiga i le tau o loʻo i ai nei i le maketi tau tupe ma lona aʻafiaga i le maketi crypto:

E ui o le toʻatele o loʻo fai mai o le BTC ma le ETH o loʻo faʻataʻitaʻiina tutusa ma e tatau ona faʻafeiloaʻi, ae matou te vaʻavaʻai i ai o ni faʻatusatusaga e sili atu le malosi ma o le a le pine ae toe faʻafoʻi.

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. 

O le tagata suʻesuʻe o Caleb Franzen na faasino i le VIX index; o se fa'ailoga e fa'aaoga e fua ai le fe'avea'i i maketi tau tupe. O lenei metric ua maua ai se fuafuaga mautu mo tagata faatau aseta lamatia i le 2022. Fai mai le au suʻesuʻe: 

O le CBOE Market Volatility Index #VIX na pa'ū i lalo ole 20 i le vaiaso talu ai, ae ua faʻalauiloa maualuga i aso nei! E pei ona ou faʻasoa talu mai Aukuso, o le fuafuaga pito i luga ole 2022 o le:

• Fa'atau aseta lamatia pe a $VIX >30

• Fa'atau atu aseta lamatia pe a $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. 

Punavai autu: NewsBTC