Bit-comment: Slowly Sliding

FxPro Daily Economic Events
FxPro Daily Economic Events

Bitcoin is slowly sliding to the lower border of $7,000, losing almost 2% over the past day. Long sideways trends have never been in favor of a reference cryptocurrency, and it seems that this time was no exception. It is worth noting that cryptocurrency slipping occurs with an increase in trading volumes, which may additionally indicate the formation of the possibility of another round-level penetration.

A sharp decline below $7,000 may trigger the sale of the first cryptocurrency and the entire altcoin market, while the beginnings of this dynamics are already visible. It is still difficult to directly link these processes with the launch of settlement futures for Bakkt, however, given the rather high volumes from the very beginning, it can also be a factor of pressure on the price, since bitcoin is now clearly expensive for institutions to confidently enter the market.

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