According to market analysts at FxPro said in a daily note that bitcoin’s attempt to break the $28,000 level last week triggered a “wave of selling that took the price back to $27,000.”
The cryptocurrencies They operate with falls this Wednesday, October 11, amid a growing risk aversion caused by the conflict between Israel and Hamas. The worsening of the conflict and geopolitical instability, investors flee towards traditional refuges such as gold, the dollar or oil and away from risk values such as digital assets. In this sense, the capitalization of the crypto market fell almost 2% and stands at 1.05 trillion dollars.
In this framework, the Bitcoin It falls almost 1% in the last 24 hours and threatens to break through US$27,000. While, Ethereum It is heading towards US$1,500. The rest of the market operates with a majority of losses of up to 1%.
According to market analysts at FxPro said in a daily note that bitcoin’s attempt to break the $28,000 level last week triggered a “wave of sales which brought the price back to “US$27,000”.
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Cryptocurrencies: what data are expected from the US
On the positive side, it seems that macroeconomic factors will give a break to the digital assets. Especially on the side of Federal Reserve (Fed), that in recent days he moderated his speech and hinted that there will be no more rate increases for the remainder of the year. This scenario was what the consensus had contemplated for weeks, according to data from CME’s FedWatch tool, although the sentiment has consolidated in recent days.
It will be key to define the Fed’s next move US inflation reading September that will be known this Thursday. The consensus expects a fall in the general rate to 3.6% from the previous 3.7%, while pointing to a rate moderation core up to 4.1% from 4.3% in August. In addition, the minutes of the last Fed meeting will be published today.
Source: Ambito
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