Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2022-04-18 12:46:43

Bitcoin extends drop to $39K as cryptocurrency market risk appetite narrows

Bitcoin (BTC-USD), Ethereum (ETH-USD) and a raft of major cryptocurrencies are facing more selling pressure Monday morning as investors' risk appetite narrows. As U.S. stock market index futures imply a weaker opening, bitcoin (BTC-USD -2.9%) is sliding to $39.31K and ether (ETH-USD -3.7%) is drifting down to $2.93K. It appears that investors are shifting their focus to safe haven assets such as Gold (XAUUSD:CUR +1.0%) in a backdrop of tighter monetary policy and geopolitical tensions. Gold is approaching $2K per ounce again, recently changing hands around $60 below its all-time high of $2,089 in Aug. 2020. On a technical basis, while Bitcoin (BTC-USD) has been trading in a six-month cyclical decline, it's “not close to an oversold reading,” and $35K support probably won't hold, said John Roque, technical analyst at 22V Research, in a note to clients Sunday, as reported by Bloomberg. “We continue to believe that it will get

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.