Bitcoin[1], Ethereum[2], Crypto Talking Points:
- Bitcoin tests18-month low as speculative assets tumble
- Ethereum runs out of options after falling below $10000
- Sentiment lacks direction, is this week make or break?
Since peaking in November last year, Bitcoin has remained under pressure amid an extremely volatile and unprecedented geopolitical backdrop.
Although low interest rates and an influx of stimulus initially contributed to surge in Bitcoin, Ether and alt coins throughout last year, Central Banks have portrayed a strong commitment to the objectives which aims to drive the inflation target back towards the 2% target in a more aggressive manner than was initially expected.
For crypto assets as a whole, the collapse of Celsius (a major cryptocurrency lender) has resulted in a wide sell-off in the market, driving the total market capitalization of the industry below the $1 Trillion Dollar mark. With sentiment and volatility in question, the Economic calendar may hold a lot more value than is currently known.
As the FOMC[3], Fed rate and BoE (Bank of England) rate decision continues to loom, it is worth noting how (and to what extent) volatility and price movements have influenced both characteristics.
With both the BoE and Federal Reserve expected to make distinct moves within this week, the economic calendar holds its weight and may attribute to the short-term move.
According to Coinmarketcap.com, over the past 24 hours, top performers include:
DailyFX[4] provides forex news and technical analysis on the trends that influence the global currency markets.
