Bitcoin There has been little change in the last 24 hours as we try to maintain the $26,000 level.
While investors expect further rises, experts BTC He states that the price remains under pressure at the $26,000 level because interest rates are pricing in that higher interest rates will prevail for a long period of time.
According to Coindesk’s news, Evaluating the Bitcoin and cryptocurrency market FxPro senior market analyst Alex Kuptsikevich said: He said the correlation between crypto and stock markets is starting to improve.
“The positive correlation between cryptocurrencies and stock markets is temporarily getting back on track.
But despite the storm in stock markets, the crypto market remains subdued. Because the crypto market lost only 0.3% in the last 24 hours.
Moreover, if we look at the Fear and Greed Index, the index is in the “fear” zone, which shows that despite the positive correlation, the cryptocurrency market has not suddenly become a safe haven.
“The index assumes that fear drives stocks down, while greed drives stock values up.”
At this point, when the correlation between cryptocurrencies and stocks turns positive and the index is fearful, the analyst warns that the calm in Bitcoin and crypto may not last long.
Bitcoin At the time of writing, it is trading at $26,396.
*This is not investment advice.
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