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Bitcoin’s breakout above $42,000 was short-lived, leading some analysts to suggest that swing trading BTC’s range is the smartest move for now.
Crypto.com is giving users until Mar. 15 to repay loans, Russia gets slapped with crypto sanctions and Bain Capital Ventures allocates $560 million to crypto projects.
Sky-high inflation, fear over the Fed’s expected rate hike and exploding commodity prices are all possible reasons for BTC’s recent dip below $40,000.
BTC price appears to be consolidating below $44,000, while analysts highlight $48,000 as the next short-term bull target.
BTC and stock markets recovered some of their recent losses, leading traders to suggest that the panic selling could be “over for a few days.”