FxPro Analyst: Bitcoin Weakness May Signal Warning for Traditional Risk Assets

ChainCatcher news, FxPro senior market analyst Alex Kuptsikevich stated that the weakness in Bitcoin may signal warnings for traditional risk assets. He said: "The weakness in cryptocurrencies may reflect a very limited risk appetite, and the rest of the market may soon follow the cryptocurrency's lead. Bitcoin has fallen for the 9th consecutive day in the past 11 days as it attempts to consolidate above the 200-day moving average, triggering strong sell-offs. This pattern has persisted until Thursday morning, as prices continue to test the lows of the past four months, and Bitcoin may struggle to gain lasting strength from the recent weakness of the dollar index."