Bitcoin cannot maintain the $43,000 level and falls to $42,000.
The cryptocurrencies suffer a setback again this Wednesday, January 31, at the close of the month and in anticipation of the signs that the Federal Reserve (FED) about the possible reduction of interest rates in March.
He Bitcoin cannot maintain the $43,000 level and falls to US$42,000. So far this month, the cryptocurrency remains virtually unchanged from the previous month. However, if you go up on this last day, would sign a streak of five wins monthly, representing the second longest period after the one achieved from October 2020 to March 2021.
And the thing is, this January, bitcoin went through very varied days that led it to be quoted in the area of US$49,000 at the beginning of the month, until falling to mid-to-low US$38. 500.
For their part, cryptocurrencies fall more than 6% this day, led by Solana (6.1%), Avalanche (6%), Ripple (5.1%) and Cardano (5%).
In this Wednesday’s session, eyes turn to the president of the Fed, Jerome Powell, and the clues he may give about the next interest rate cut. Analysts suggest that bitcoin, and the rest of the cryptocurrency market, would maintain its attitude if there are no keys, but could continue to rise if it is suggested that it is likely to there is a drop in the March meeting.
Cryptocurrencies: the ranking of profits and losses for January
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- Polkadot (DOT): -20.4%
- Ripple (XRP): -18.4%
- Polygon (MATIC): -18.3%
- Cardano (ADA): -17%
- Internet Computer (ICP): -15.9%
- Avalanche (AVAX): -13.4%
- Shiba INU (SHIB): -13.4%
- Dogecoin (DOGE): -12.5%
- Bitcoin Cash (BCH): -11.7%.
The month’s gains were only achieved among the top 20 in the market, by Tron (TRX) by 5.7% and Chainlink (LINK) 1.7%.
Source: Ambito
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