Investing.com – After approaching $ 40,000 on Saturday night, the continued its fall on Monday, testing this key threshold, with so far a daily low of $ 39,677, the lowest since September 21.
The fall in Bitcoin coincided with the sharply lower opening of the US stock markets, which also provided an opportunity for the correction of European stock markets to accelerate.
However, this test of $ 40k seems to have drawn massive buyers so far, as BTC / USD was hitting above $ 41,000 within minutes of the bottom.
Further weakness with a confirmed breakout below the $ 40k level would pave the way for the next support in the $ 37,500 area.
Recall that last week, Bitcoin was significantly affected by more than expected, just like stocks.
In this regard, it will be recalled that one revealed that the bank now expects 4 Fed rate hikes this year, confirming that the market is increasingly anticipating a tightening of US monetary policy faster than expected, which is a bearish factor for risky assets, including cryptocurrencies.
With regard to other cryptocurrencies, the also suddenly accelerated its fall this afternoon, with a low at $ 2,932 towards the opening of the US stock markets. However, just like BTC, ETH has rebounded quickly and is back above $ 3,000 at the time of writing.
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