The Crypto Market Quickly Encountered Resistance
Bitcoin is down nearly 3% in 24 hours, falling below $112K. In July-September, the first cryptocurrency found buyers on dips in the $108-109K range, and the intrigue of the day is whether it will find them now. Like the crypto market, BTCUSD is trading below the 50-day MA but above the 200-day MA. Consolidation below the long average could be a repeat of the situation at the end of 2021, when a bear market started.
Crypto News
According to CoinShares, global investment in crypto funds rose by $3.169 billion last week, almost half the record inflow of the previous week. Investments in Bitcoin increased by $2.671 billion, in Ethereum by $338 million, in Solana by $93 million, in XRP by $62 million, and in Sui by $2 million.
The…
