The current weakness in the crypto market is seen as a "sell-the-news effect" and a correction that was overdue, according to Joel Kruger of LMAX Digital. However, there are other factors at play, such as uncertainty around the US economy, which is causing a risk-off wave. Ruslan Lienkha of YouHodler markets believes that the current market environment may lead to a medium-term bearish market, especially with concerns about a potential recession in the US. Despite this, Kruger believes that bitcoin is getting closer to finding a bottom and should be well-supported at the previous resistance area. Lienkha notes that while bitcoin could evolve into a hedging asset in the future, investors currently perceive it as a high-risk asset. The stock market and economic data will continue to be watched for its impact on the crypto market.



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