According to Odaily Planet Daily, Alex Kuptsikevich, senior market analyst at FxPro, said that Bitcoin's weakness may be a warning to traditional risk assets. The weakness of cryptocurrencies may be a manifestation of very limited risk appetite, and the rest of the market may soon follow the example of cryptocurrencies.
Bitcoin fell for the ninth time in the past 11 days as it attempted to consolidate above the 200-day moving average, triggering an intense sell-off. This pattern continued into Thursday morning, with prices continuing to test lows from the past four months. Bitcoin may not be able to gain lasting strength from the recent weakness in the U.S. dollar index.
