Bitcoin price dip to $39.2K places BTC back in 'bear market' territory
Traders say the threat of a lengthy bear market is heightened after BTC price drops to $39,200. The cryptocurrency market took a turn for the worse on April 11 after concerns related to rising inflation, the prospect of several more interest rates by the U.S. Federal Reserve and fear of a global food shortage led to widespread weakness across global financial markets.Data from Cointelegraph Markets Pro and TradingView shows that bears broke through the bulls' defensive line at $42,000 in the early trading hours on Monday to drop Bitcoin (BTC) to a daily low of $39,200 and several analysts....
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