Dear community, hope you had a good week. Welcome to my weekly overview!
I feel like I’ve been making the same weekly posts over the last month or so. Bitcoin is still in a period of extremely low volatility and alts are generally trending downwards. Difference with last week is that BTC seems to be trading around 29,000 all the time instead of 29,300. A mere 1% difference, but still significant considering Bitcoin trades within a 0.5% range on some days.
Another significant change in trend is the stock market. We’ve got the first daily confirmed downtrend (lower-lows) in months. Bitcoin didn’t follow the stock market when stocks were booming, but I’m rather confident that BTC will start going down once stocks go down as well. It’s simply better to be a crypto bear once the stock market starts falling.
Coming week is going to be interesting since we’ve got another CPI/Inflation print coming on Wednesday. Lower number good, higher number bad, simple as that.