- Bitcoin (BTC) Analysis
- Ethereum (ETH)
- Shiba Coin
Bitcoin price fell below $59,000 again, causing unpleasant results for altcoins. This is happening against the backdrop of weakened expectations of a Fed rate cut and the World Health Organization's declaration of a global emergency.
Bitcoin (BTC) Analysis
At the time of writing, Bitcoin price is hovering around $59,000. The World Health Organization recently declared a global emergency due to a new, faster-spreading monkeypox virus variant. This raises concerns among crypto investors. If we are to experience a new global pandemic period, it could mean that the crypto market will face significant challenges ahead of a potential rise.
Ethereum (ETH)
During the turbulent week, Ethereum also reached a new low near the $2,000 threshold. Although the $2,534 level was maintained as support, Ethereum could not reclaim the $2,840 level. If the decline continues, the $2,318 level could be tested, potentially leading to a further drop to $2,000.
Shiba Coin
As long as the $0.00001312 support is maintained, there is no immediate issue for SHIB. However, if the monkeypox virus causes market panic, the $0.00001087 support may be tested. For new peak attempts, Shiba Coin must reclaim the parallel channel support at $0.00002080 and surpass the ceiling at $0.00002949.
The Bitcoin price below $59,000 significantly impacts the cryptocurrency market. Investors should remain cautious in light of the current global uncertainty.
