Crypto gets hammered in America, rebounds in Asia
Market picture
The cryptocurrency market lost 0.2% in 24 hours to $2.12 trillion but saw a fresh drop in the US session during the day before rebounding on buying in lower volumes in Asian trading on Friday morning. The Sentiment Index fell to its lowest level in over a month at 32 (fear).
Since the beginning of the week, Bitcoin’s intraday momentum has been dominated by declines during the US session. The intensification of the sell-off was clearly visible on Wednesday and Thursday, with losses from peak to trough exceeding 3%. The first cryptocurrency fell below $59K before recovering to $60.5K at the time of writing. The momentum of the previous day’s sell-off sent BTCUSD below its 50-day MA, and on the…
