After several big sessions, Bitcoin is facing a first resistance around $48,000. A resistance where the currency failed yesterday with a pullback at the end of the day after its very strong bullish bias which led it around 47,500 dollars.
This Wednesday is therefore a day of consolidation with two major stakes: one where Bitcoin will try to maintain its high levels at $47,500, the other where it will have to try $48,000 or at least aim forward. .
Markets dependent on Bitcoin 😥
If many investors are regaining optimism around Bitcoin this Wednesday, one thing is becoming more and more present: the dependence of the markets on BTC. Cryptocurrencies and tokens are all eyeing Bitcoin and cannot do without it to hope to capitalize.
Bad news that once again demonstrates a Bitcoin-related crypto market. We will once note the positive correlation between the evolution of Bitcoin and the cryptocurrency market with BTC down 0.04% over 24 hours and a global digital currency market down 0.02% over 24 hours (2.15T $).
Image source Quantitative 🎯
