Despite the ongoing decline in the US stock markets, Bitcoin has gained close to 8% in the last 24 hours and has risen to over $20,000 again after 10 days.
Recently digital asset trading platform Cumberland via social media account in his post, ETH/Nasdaq correlation of 2022 June after the summit is on the rise by specifying the individual characteristics of the correlation ETH that you have overshadowed he had said.
However, yesterday, the Nasdaq index fell and Ethereum showed an upward performance. a divergence in correlation caused.
But to speak of a “clear” separation it’s too early yet is thought to be. According to some market commentators, normally cryptocurrencies decide their direction according to the course of the US stock markets, this time around. US stock markets determine their direction according to cryptocurrencies and will rise. If the US stock markets do not rise cryptocurrencies fall There is also a section of people who think they will live.
Last week, the Federal Reserve (Fed) 75 basis point rate hike had accomplished. Many investors, who think that the market is pricing this rate hike, are thought to be buying. In addition, the decline of the record-breaking dollar index day by day seems to be another factor affecting the rise in the crypto money market.
Bitcoin Technical Analysis
18,600 Bitcoin, holding on to its support at dollar levels, today 8% rise lived. Both 50 and 100 days Bitcoin, which is below the moving average, may have difficulty surpassing these averages if it rises.
However, the average and $21,800 levels In case Bitcoin is permanent on it, first 25,200 next 28 thousand dollars levels are expected to rise.
If Bitcoin fails to maintain the $ 18,600 levels, 14-16 thousand It is predicted that it will decrease to the dollar level.
- The data contained in the content is for informational purposes only. It is not investment advice.