Bitcoin and ETH both fell below key price levels on Tuesday, as crypto bears continued to push prices lower. Despite this, both have now regained these levels following news that U.S. inflation rose to a record 8.5% year-over-year. Overall, cryptocurrency markets were down 1% as of writing.
Bitcoin
BTC dropped below its key level of $40,000 earlier in today’s session, as recent losses in value continued to mount.
Following a high above $42,000 to start the week, BTC/USD fell to an intraday low of $39,373.06 on Tuesday.
This is the lowest level BTC has traded since March 16, however declines have somewhat eased as the floor was hit.
As seen on the chart, this floor was at the $39,450 level, which then gave bulls the courage to re-enter the market due to previous rebounds which occurred at this price.
Since today’s low, BTC is now trading at $40,270, meaning that losses have eased, and now sit at negative 1.82% for the day.
Price strength continues to be oversold, which could be yet
We współpracy z: https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-btc-back-above-40000-following-record-u-s-inflation-data/
