Skip to content Skip to sidebar Skip to footer

Bitcoin and select altcoins slipped below their immediate support levels, opening the door for further downside.

Bitcoin (BTC) and most major altcoins have started the new week on a soft note and the Crypto Fear and Greed Index has dropped into the “extreme fear” zone, suggesting that investors are still nervous.

Bitcoin has declined about 17% year-to-date while the Nasdaq 100 has dropped about 16% during the same period, indicating a tight correlation between the two. In comparison, gold has risen more than 10% in 2022 and its 50-day correlation coefficient with Bitcoin “is around minus 0.4, the lowest since 2018,” according to journalist Colin Wu.

Read More

Leave a comment