Bitcoin price kick-started a minor uptrend on November 24 but is experiencing a slowdown before reaching its intended target. From a higher time frame perspective, things look to be stationary as BTC continues to consolidate.
Cardano price seems to be continuing its downtrend without any signs of a let up. ADA has sliced through a wide area of support, hinting at a massive crash, however, this bearish outlook is contingent on one more key foothold giving way.
As news of the new Covid variant spreads, asset prices in crypto and equities markets have plunged, with Bitcoin price dropping below $55,000 for the first time in the past 30 days.
Global markets spooked today on this new covid variant. Big moves across global markets. Growth stocks trashed, crude oil lower, rates down, rotation back to tech. Traders pricing in higher odds of renewed lockdowns on low liquidity conditions. It’s OK, no covid in the metaverse https://t.co/WF1Zv4pfxM
— Alex Krüger (@krugermacro) November 26, 2021