The cryptocurrency market is experiencing a state of acute apprehension today, as the performance of Bitcoin and other assets reflects a declining rate for players. For example, Bitcoin has remained at levels close to approximately $85-90 thousand, down about 2% in today's trading and vulnerable to a drop to lower levels.
The largest losses are concentrated in the fact that the total market value of cryptocurrencies has eroded by more than $1.2 trillion over six weeks, reflecting a significant outflow of capital due to a decrease in risk appetite among investors.
In terms of trends, there is a critical support point around the $88 thousand level for Bitcoin, and if it breaks, it may open the door for additional declines. Conversely, some alternative coins (Altcoins) have started to show some rebounds after a sharp sell-off, but the overall situation remains within a range of extreme fear.
Summary: The market today is in a state of "consolidation" after a wave of pressure, and external triggers such as interest rate decisions from the U.S. Federal Reserve and the assessment of the surplus in technology stocks represent key risks to watch. $BTC
