The third day of crypto cooling off
Market picture
The cryptocurrency market continues to cool for the third day in a row, falling 1.7% in the last 24 hours to $2.92 trillion. This is a retest of the lower end of a range that is seeing serious position shake-offs. This dynamic is also in line with the general risk-off sentiment that has prevailed in the markets this week. By the end of the week, we cannot rule out a deeper correction to the overall level of $2.73 trillion, which is the 61.8% level of the last growth impulse and the consolidation area of 10-11 November.
Bitcoin is consolidating below $88K, opening and closing within the $88K–$89K range for the fourth day. On the daily timeframe, the RSI is about to fall below the 80 level, which…
