What is moving the market
The overall market sentiment is slightly bearish, influenced by concerns over interest rate hikes and regulatory crackdowns. While there are some positive outlooks for Bitcoin, macroeconomic uncertainties and specific news regarding crypto-related risks are currently dominating.
Biggest risk
Bitcoin experienced some volatility, briefly spiking towards $80,000 following CPI data release, but the fear of Fed rate hikes continues to exert pressure. The market is awaiting further clarity on monetary policy, which is currently capping price action. Other altcoins like Zcash saw significant drops after substantial rallies, indicating profit-taking and potential liquidation events.
