CandleFocus

Weekly Price Analysis: Prices Decline on Risk-Off Sentiments

Author: Content Editor
Bitcoin's price had a negative week, falling from a high of $102,733 to a low of $91,188 before closing at $94,547. Technical analysis suggests that while the price turned bearish, it is still in overall bullish territory. The bearish sentiment is driven by bleak economic expectations, with the Fed being cautious about inflation. Bitcoin's open interest also declined during the week. Ethereum also had a negative week, falling from a high of $3,744 to a low of $3,157 before closing at $3,236. Ethereum's open interest also decreased, and spot ETFs saw a net outflow following risk-off sentiments in the market. Solana's price fell from a high of $223 to a low of $181 before closing at $188. The open interest for Solana also decreased, but has since improved. Ripple's price saw an increase and closed higher at $2.55, with open interest rising on Bitget, supporting upward price movement. However, a pullback is expected due to technical analysis.

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