ETH פאלס צו 15-חודש נידעריק צו אָנהייבן די אָפּרוטעג - מאַרק דערהייַנטיקונגען ביטקאָין נייַעס

Crypto prices plunged as the weekend commenced, following yesterday’s U.S. inflation report, which came in at a 40-year high of 8.6%. עטה fell to its lowest point in fifteen months, while בטק dropped below $29,000.

ביטקאָין

Following days of consolidation, בטק finally moved late on Friday into Saturday, as crypto prices responded to the latest inflation report.

Data from the United States showed that inflation came in at a 40-year high of 8.6%, which is higher than the 8.3% many had expected.

As such, investors seem to have panicked, and in turn liquidated some of their positions in crypto markets.

בטק/USD fell to an intraday low of $28,911.36 to start the weekend, taking prices to their weakest point in almost two weeks.

Despite the drop, prices still remain above support at $28,800, however some expect the sell-off to intensify as the weekend progresses.

Should we see the 14-day RSI move below its current support of 40.50, then we could see this expectation come into fruition.

עטהערעום

שבת געזען עטה fall to its lowest point in over a year, as prices of the world’s second-largest crypto token plunged.

To start the weekend, עטה/USD fell by nearly $300, hitting a bottom of $1,583.10 earlier in today’s session.

This is the lowest level prices have hit since March last year, and comes as prices broke out of support at $1,720.

Following days of consolidation, price strength also waned, with the RSI seeing its floor of 36 easily broken.

As of writing, the indicator is now tracking at 30.96, which is close to a lower support level of 29.30.

Like bitcoin, some expect prices of עטה to fall lower in the coming days, and this floor in the RSI could be a point that bears are targeting.

Why does inflation have such an impact on crypto prices? Leave your thoughts in the comments below.

אלימאן דאמבעל

עלימאַן ברענגט אַ יקלעקטיק פונט פון מיינונג צו מאַרק אַנאַליסיס, ווייל געארבעט ווי אַ בראָוקערידזש דירעקטאָר, רעטאַיל טריידינג עדזשאַקייטער און מאַרק קאָמענטאַטאָר אין קריפּטאָ, סטאַקס און פקס.