BTC Tests 42k As Market Dips

Neither this post nor any other post at cryptofal.com should be taken as financial advice. It is not.

Following the news about the likely sooner increase in interest rates, both fiat markets and crypto markets were affected.

BTC found itself dipping all the way down to around $42,500. It’s currently holding above that support. The MFI is continuing to dip downwards, and and could be preparing to test oversold territory. The MACD is swinging downwards, but it’s making an attempt at settling in this range.

The overall cryptocurrency market is currently bordering $2 trillion and the overall volume is around $138 billion. BTC dominance is at 39.7% and ETH dominance is at 19.7%.

ETH’s MFI is bordering oversold territory and its MACD has continued a downtrend, however it is attempting to settle here. ETH had a slightly higher percentage dip going into the morning than BTC, as did much of the altcoin space.