What's happening in the crypto market this week?
The market isn't experiencing the violent movements we're used to because there's a simmering situation, and if you're focused, you'll feel that change is happening beneath the surface and behind the scenes.
What is Bitcoin doing?
Bitcoin this week was like a wave going up and down. It rose above $106,000 and then dropped back below $102,000! What does this mean? It means there is high volatility, and the market isn't stable. This movement involves a significant struggle between buying coming from institutions and the natural correction that happens after the crazy rise we saw in April. And be aware, Moody's downgraded America's debt rating, which made many turn to Bitcoin as a hedge. We saw a jump and then a retraction, meaning the market is sensing fear from the dollar.
What is Bitcoin doing?
Bitcoin this week was like a wave going up and down. It rose above $106,000 and then dropped back below $102,000! What does this mean? It means there is high volatility, and the market isn't stable. This movement involves a significant struggle between buying coming from institutions and the natural correction that happens after the crazy rise we saw in April. And be aware, Moody's downgraded America's debt rating, which made many turn to Bitcoin as a hedge. We saw a jump and then a retraction, meaning the market is sensing fear from the dollar.
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