Analysis: Cryptocurrency Selling Pressure, Warning of Spread to Wider Risk Trading
2024-08-07 16:05:23
Bitcoin turn down finance website forexlive analyst adam buttondesk3cryptocurrencydesktopCrypto News
Bitcoin turned down during the day. Adam Button, an analyst at financial website Forexlive, said: This is a sentiment-driven market right now, and Bitcoin has been a good forerunner of market sentiment, so I've been keeping a close eye on it. Bitcoin has dropped $1,000 in the last 30 minutes or so. Ethereum is also down 3%, giving back all of yesterday's gains, and its performance since the launch of the US Spot ETF has been a disaster. Given these movements, I would be cautious about the Nasdaq index and broader risk trading.
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