The bearish mood is perhaps understandable — the Ethereum Merge became a “sell the news” event, and along with macro triggers contributed to a fresh risk asset flight.
Now, analysts are considering the chances of the downtrend staying in place at least until the Fed rate announcement passes.
“BTC has chopped through the weekend, but there's always the potential for some volatility before the close The past week has seen tailwinds stack up for Bitcoin, leading to BTC price action falling in kind.
BTC/USD lost over $2,000 in a single weekly candle, closing below $20,000 in what is the lowest such close since July, data from MY Youtube channel and trading view shows.
Following the lowest weekly closing since July, Bitcoin (BTC) is facing yet another week of "big" macro announcements.
Following days of losses in the wake of the most recent inflation data from the United States, BTC/USD has failed to recover, much like other altcoins and risk assets more broadly.
The biggest cryptocurrency has yet to convert $20,000 to a solid support, and as the third week of September gets underway, there's a risk that it might do so once more.
LIKE COMMENT AND SHARE FOR MORE, GOOD LUCK.
Now, analysts are considering the chances of the downtrend staying in place at least until the Fed rate announcement passes.
“BTC has chopped through the weekend, but there's always the potential for some volatility before the close The past week has seen tailwinds stack up for Bitcoin, leading to BTC price action falling in kind.
BTC/USD lost over $2,000 in a single weekly candle, closing below $20,000 in what is the lowest such close since July, data from MY Youtube channel and trading view shows.
Following the lowest weekly closing since July, Bitcoin (BTC) is facing yet another week of "big" macro announcements.
Following days of losses in the wake of the most recent inflation data from the United States, BTC/USD has failed to recover, much like other altcoins and risk assets more broadly.
The biggest cryptocurrency has yet to convert $20,000 to a solid support, and as the third week of September gets underway, there's a risk that it might do so once more.
LIKE COMMENT AND SHARE FOR MORE, GOOD LUCK.
