Friday, 27 January 2023
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What crashed the crypto relief rally?

What crashed the crypto relief rally?


On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally.

To kick things off, we broke down the latest news in the markets this week

Bitcoin (BTC) to lose $21K despite miners’ capitulation exit? Five things to know in Bitcoin this week. Miners are a glimmer of hope in a barren Bitcoin landscape this week ahead of a key Federal Reserve event in Jackson Hole. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and the fear across crypto markets is clearly visible. As August nears the end, what will September bring in terms of inflation, price volatility and other macro triggers?

Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows. The total crypto market capitalization dropped to the $1 trillion support, and weak stablecoin demand and a largely absent funding rate reflect traders’ negative sentiment. Will crypto investors’ sentiment shift toward more bearish? Are we on our way to retesting yearly lows?

Cryptocurrencies react to Jackson Hole, Fed rate hike plans and a weakening bear market rally. The price action in Bitcoin, altcoins and stocks reflects investors’ anxiety over the Fed’s rate hike plans, a weakening bear market rally and this week’s Jackson Hole economic symposium. Are the fear of future interest rate hikes by the Federal Reserve making investors nervous? Is this macro uncertainty keeping the institutional investors away from the crypto markets?

Bitcoin whales attack sellers at $22.3K as euro drops below USD parity. Bitcoin struggles to make a return to higher levels despite geopolitical uncertainty striking the Eurozone. The weekend lows however preserved the lows from July, could this mean that the bear market rally could make a return? What happens if Bitcoin moves above the critical 200-week moving average (WMA)?

Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Be wary of exchanges.

Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest…

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