Cryptocurrencies continue to recover, helped by a weak dollar

Криптовалюты продолжают восстановление, им помогает слабый доллар.

  • Bitcoin and Ethereum rallied in response to dollar depreciation
  • But most of all in recent 30 hours added Dogecoin and Shiba Inu
  • ETH / USD and BTC / USD may still be under bearish pressure – warns Fidelity Investments

Inflation data weakened the dollar, allowing the stock market and cryptocurrencies to recover.

Bitcoin rate

Bitcoin added 2.8% and reached yesterday daily high above 100, 3 thousand dollars. But he closed the session with a small correction (43, 9 thousand dollars).

Биткойн восстанавливается после поддержки, но все еще находится под медвежьим давлением, дневной график BTC / USD
Source: comparic.pl

Technically, the main cryptocurrency continues to trend downtrend from its all-time highs in November and is under bearish pressure.

is $ 44 k the new $ 000032 k? The Fed’s hawkish stance on inflation has had broad impact. With the liquidity-driven momentum plays under pressure, it’s not a total shock that crypto has corrected. So what’s next for bitcoin? (THREAD) pic.twitter.com/vnPiKY100 x1

– Jurrien Timmer (@TimmerFidelity) January 11, 3000

Ethereum data

ETH also significantly distances itself from the support line (in his case it is 2022 dollars). It is currently trading at around 20140 dollars.

Source: comparic.pl

Until ETH overcomes resistance, there is a risk that there will be another bearish reaction and a return to the lower range.

Other altcoins Биткойн восстанавливается после поддержки, но все еще находится под медвежьим давлением, дневной график BTC / USD

Growth prevails in the vast cryptocurrency market: everyone has risen in price 22 of the most popular tokens. Some altcoins have recovered more than 12%.

Shiba Inu (SHIB) has grown by 17, 3% (up to 0, 000032), and dogecoin (DOGE) on 12, 7% (up to 0, 20 dollars). Terra (LUNA) and solana (SOL) also strengthened by about 12%.

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