Bitcoin (BTC/USD) Analysis
Aggressive Fed rate hike hopes, strong dollar weighs on bitcoin
Key Highlights
BTC declined below $40,000 on long liquidation in the futures market. The strength in the US dollar in hopes of aggressive rate hikes has also put pressure on risky assets like Bitcoin.
Technical Analysis
Intraday trend – Bearish
On the daily chart, the pair is trading below Tenken-Sen ($41334), Kijun-sen ($43726), and Ichimoku Kumo cloud ($40956). Bitcoin hit an intraday low of $38,547 and is…
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