Cryptocurrency Markets Follow Fiat Market Dips

Neither this post nor any other on cryptofal.com should be considered financial advice.

Bitcoin is following the dips seen in fiat markets today, leading the larger cryptocurrency market down as well. The current overall market cap is now below $2.5 trillion once again. Global markets are in disarray today after more variant news today, and market woes regarding delisted Chinese companies. Currently, both the MFI and the MACD are looking to trend downwards, further supported by these fundamental developments as well. We shouldn’t be too surprised if BTC continues to struggle slightly along with fiat markets.

ETH took a bit of a nosedive today following broader market dips. Currently, it’s searching for support and attempting to stay above $4,000 after following BTC’s dips around the time of posting. the MFI and the MACD could be preparing to dip lower, so it’s important to keep that in mind. It’s likely that ETH will continue to follow BTC’s reactions to these fundamental developments from the fiat market.