The crypto market is weakening due to the lack of strength among buyers to further accelerate the price

The current situation on the Bitcoin chart resembles a global one in miniature.

In early February, quotes began to rise sharply, 8numbers reached a local peak of $45.5 thousand, followed by a correction to $42.8 thousand and a new peak on February 10 near $45.8 thousand. In the fall, a similar situation was observed: a new maximum of $67 thousand, a correction and another record 20 years later days – $69 thousand

This picture indicates the presence of serious weakness due to the lack of strength among buyers to further accelerate the price. Do not forget that the main phaseThe fall of BTC at the end of last year began after the quotes fell below the mark to which they gravitated between the first and second peaks.

At the moment, the first cryptocurrency is already trading below $44 thousand, which means there is a high probability of further decline: first to $39 thousand, and then even lower – up to $36 thousand

Market sentiment remains negative, mainlyThus, due to the tightening of the Fed’s policy, which should slow down the growth of consumer prices, and many pointed out that the main driver of BTC was the need to protect savings from inflation.

There are attempts to suck all possiblepositive from the news about new record network hash rates, but they are unlikely to end in something significant. Still, the total capacity of the connected equipment for mining coins does not affect market processes.

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