Ethereum Classic (ETC) holds its Resistance, and the market shows a Call for another rise.
Ethereum Classic (ETC) recently demonstrated Call signals after bouncing back from a key demand zone. After testing and holding the 17 dollar Resistance, ETC saw an 8% increase during the period of March 6.
Market sell-offs and economic uncertainty have led Bitcoin to face further declines: waiting for key signals from the Federal Reserve.
Due to the increase in tariffs by the USA and concerns about economic recession causing a significant change in investor sentiment, the landscape of Cryptos shows great vulnerability to macroeconomic factors. Bitcoin recently broke below the $80,000 level both digitally and psychologically, indicating a heightened level of caution among traders. Bitcoin fell to around $76,500 at its lowest point, followed by a slight rebound. The performance of Ethereum has not been much better, as its value has dropped over 11%, with the current trading price around $1,850, marking its lowest level since October 2023.
Bitcoin Liquidation Heatmap Unveils Key Price Zones – Could a Major Swing Be Next?
Bitcoin is facing a decrease in demand: as long-term holders accumulate more BTC, short-term risks may increase.
The apparent demand for Bitcoin has been severely impacted, with spot demand sharply shrinking in recent days. This decline marks the largest drop since July 2024 and is the first in over four months. The decrease indicates an escalation of skepticism among investors, leading to reduced buying interest and increased short-term Put pressure.
Bitcoin's Short Positions Surge as Traders Bet on More Losses – Why?
Bitcoin, Ethereum And Dogecoin Crash As Trump Refuses To Rule Out Recession: Arthur Hayes Predicts BTC To Retest $78,000
