BTC quotes have broken through the lower limit of the range where they were all December and now, apparently, are heading towards $ 39 thousand. This level is quite important, because it served as a support for the autumn price growth to new record levels, so buyers will need to make all the necessary efforts to keep it. Failure will lead to a deeper drop – up to $ 30 thousand.
At the moment, there are no significant information flows that can lead to the emergence of positive sentiment in the market.
Macro statistics from the United States hinting at an acceleration of inflation also does not add positivity, because as a response, the Fed will tighten monetary policy or, in other words, withdraw liquidity from the market. These actions will deprive investors of opportunities for unrestrained purchases of risky assets that have occurred since 2020, which, in turn, will negatively affect not only the shares of technology companies, but also the cryptocurrency.
At such moments, you should be as careful as possible, since the probability of further market decline is extremely high. You can take a closer look at the undervalued coins of projects that offer working and in-demand solutions, whose price is far from the maximum marks. For example, Graph, whose service allows you to analyze online data: the quotes of the GRT token did not participate in the autumn rally and are still trading at a significant discount to the May marks.