Yesterday’s market trend was weak and fluctuated in the morning. By noon, the market began to rebound, once rebounding to around $52,000, which can be regarded as a new high in the recent market, but in the evening the market suddenly began to fall. The situation has continued to the present, with the lowest touch being below $44,200. And there is a tendency to keep falling.
It is believed that the market rose last night because of the listing of Coinbase, which was approved by the SEC. This benchmarking event caused the entire cryptocurrency market to rise. Then the cryptocurrency price continued to fall because of the impact of U.S. stocks. Because the 10-year U.S. Treasury yields soared, U.S. stocks plummeted, including Tesla and other technology stocks, which led to the decline of the entire cryptocurrency market. Investors need to be prepared for the recent market recurrence.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.