CORRECTION SIGNALS IN THE CRYPTOCURRENCY MARKET: BTC AND ETH
Bitcoin (BTC) and Ethereum (ETH) have exhibited significant price movements recently. After testing the 100,000 $ level, BTC retreated to around 96,000 $ . ETH, on the other hand, similarly fell from the 3,450 $ level and approached the 3,270 $ support.
Market analysts state that these corrections are related to the US Federal Reserve's interest rate decisions and outflows in Bitcoin ETFs. In particular, Federal Reserve Chairman Jerome Powell's signal to slow down the interest rate reduction cycle caused fluctuations in the cryptocurrency market.
In terms of technical analysis, it is emphasized that BTC has strong support at the 90,000 $ level and has a chance to recover as long as it remains above this level. For ETH, it is stated that the 3,270 $ support is critical and that further declines may occur if it falls below this level.
Investors should be cautious in current market conditions and should closely follow US economic data and central bank policies in particular. In addition, entries and exits in cryptocurrency ETFs also provide important clues about market direction.
As a result, the current corrections in BTC and ETH are shaped by the influence of market dynamics and macroeconomic factors. It is important for investors to determine their strategies by paying attention to risk management and following market developments.
- The information contained in this article is never investment advice and is for accurate and up-to-date information purposes. STAY TUNED❗️ Be sure to do your own research❗️
