Few Signs of Upward Momentum as Bitcoin Holds $20K

Oanda Senior Market Analyst Craig Erlam said that fizzling bitcoin rallies likely reflect downbeat sentiments in the current market. Erlam: “Traders are clearly taking a very conservative view of the space and that may not change any time soon” Simon Peters, a crypto-market analyst with eToro, said that the Federal Reserve’s monetary policy – including interest rate hikes amid rising inflation – can also affect crypto markets. “Increasing recession risks, poor earnings and forward guidance from companies could further affect stock market prices. Given the recent correlations, crypto prices could also be affected,” Peters said.Ether was down 3.6% in the past 24 hours, trading at $1,187. Source