Amid deteriorating sentiment in the cryptocurrency markets, losses are deepening. The beginning of today's session on Wall Street brought a slight rebound in the indices. However, the euphoria didn't last long, and after more hawkish remarks from Barkin of the FED in the latter part of the day, the indices accelerated their decline, with both US500 and US100 currently trading in the red.
The worsening sentiment also weighs on BTC, which is struggling to maintain the support zone where the most recent declines from the end of last week halted. BTC is currently trading 0.75% lower, around 29,300 dollars per BTC. If the current downward pressure proves strong enough to permanently breach the 25,800 level, we might see another downward wave. In such a scenario, the next support level would be 25,000 dollars. Otherwise, if the bulls manage to defend the current level, the key resistance remains at 26,200 dollars.
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source: xStation 5
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