Bitcoin keeps Sideways movement above $40k.
On Tuesday, January 18, the auction ended with a slight increase. Bitcoin rose by 0.36% to $42352. The market remains under pressure from the sale of US stocks and the general strengthening of the dollar. All risky assets were under pressure. The S&P500 index fell by 1.51% to $35368.47 points, the Nasdaq – by 2.6% to $ 14506.90 points.
On Wednesday, during the Asian session, the price declined to $41,138
The current rate is $42,127. The price bounced up following the SP500 futures (+0.23%) and Nasdaq (+0.3%). There is a close connection between the cryptocurrency and the American stock markets (more than 0.5). The situation has not changed in recent days.
Buyers are struggling to defend the $41250 level in order to stay above the psychologically important $40k level. The situation is uncertain. It is necessary to monitor the debt and stock markets in order to respond in a timely manner to a change in wind direction. The external background is negative, so they will have to give up positions in a headwind. To resume the rally, you need to close the week above $45,500 per bitcoin.