Bitcoin Falls Below $21K

Bitcoin’s four-day winning streak snapped on Sunday with the largest cryptocurrency tumbling below $21,000.

Bitcoin was recently trading at about $20,800, down more than a percentage point over the past 24 hours, although still higher than it stood before starting its mini-rally on Wednesday. Market observers see the crypto continuing to trade in the $18,000 to $22,000 range that it has maintained for a month, at least until investors have a clearer sign whether central banks can lick inflation without casting the global economy into recession.

“While Bitcoin saw positive momentum this week, it remains range-bound when you take a broader view, and is still struggling to cross the $22,000 resistance,” Joe DiPasquale, the CEO of crypto asset manager BitBull Capital, wrote to CoinDesk.

Source: https://www.coindesk.com/markets/2022/07/17/first-mover-asia-bitcoin-dips-below-21k-why-the-current-bear-market-differs-from-2018/