CRYPTO NEWS - Bitcoin Price Can’t Find its Footing
00:01 Intro
01:12 Crypto News
02:08 Bitcoin News
03:22 Ethereum News
05:04 Bitcoin Technical Analysys
07:17 Bitcoin Price Prediction
09:50 Outro
The sudden collapse of bitcoin (BTC) on Jan. 10 sent the price below $40,000 for the first time in 110 days, a wake-up call for leveraged traders. That week, $1.9 billion worth of long (buy) futures contracts were liquidated, leading to a drop in morale among traders.
The crypto "fear and greed" index, which ranges from 0 "extreme fear" to 100 "greed," reached 10 on Jan. 10, its lowest level since the March 2020 collapse. The indicator measures trader sentiment using historical volatility, market momentum, volume, bitcoin dominance and social media.
As usual, the panic turned into a buying opportunity as total cryptocurrency market capitalization rose 13.5%, climbing from a low of $1.85 trillion to $2.1 trillion in less than three days.
Investors now seem to be digesting this week's economic data, which showed U.S. retail sales in December 2021 were down 1.9% from the previous month.
Investors have reason to worry about stagflation, a scenario in which inflation accelerates despite no economic growth. However, even if this ultimately proves that the digital bitcoin deficit is a positive characteristic, markets will still take refuge in whatever asset is deemed safe. Thus, the first wave could potentially prove disastrous for cryptocurrencies.
#cryptocurrency #bitcoin #btc
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