RATE Group | Bitcoin is vulnerable to losses as SMA200 daily in danger
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Bitcoin is vulnerable to losses as SMA200 daily in danger

08 Nov Bitcoin is vulnerable to losses as SMA200 daily in danger

Posted at 07:02h in Bitcoin News by

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  • Macroeconomic factors may bode ill for the first cryptocurrency.
  • BTC/USD has come close to the critical support level.

The cryptocurrency market is range-bound with a bearish bias as Bitcoin and most of the major altcoins are nursing day-to-day losses from 1% to 5%. The total cryptocurrency market capitalization has not edged lower to $249 billion from $251 billion the day before; an average daily trading volume decreased from $79 billion to $77 billion, while bitcoin’s market share stayed at 66.9%.

Read also: Cryptocurrency market update: Where is this Directionless Bitcoin trading going?

Fundamental picrure

The cryptocurrency market is usually insensitive to fundamental developments; however, the risk-on sentiments caused by a detente in the U.S.-China trade war and improved global macroeconomic profile may eventually influence the sentiments on digital assets market. 

Gold, Treasuries, JPY and other save-haven assets go down amid growing interest to…

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