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The crypto market continues to experience a bearish trend this morning, with Ethereum struggling to hold above $4,100 and Bitcoin dropping below $113,000.
BlockBeats News, August 20th, according to HTX market data, last night and this morning, the crypto market continued to experience a bearish trend. In particular,
Ethereum fell to around $4100, currently priced at $4107.89, with a 24-hour decline of 2.02%.
Bitcoin dropped below $113,000, currently priced at $112,895.92, with a 24-hour decline of 0.78%.
On the news front, the main bearish factors may come from the decline in the US stock market and international macroeconomic uncertainty: the US stock market closed on Tuesday with the Dow slightly up, the S&P 500 down 0.58%, and the Nasdaq down 1.46%. The Russia-Ukraine conflict escalated again, and the market expects Powell's speech to potentially shatter expectations of a 50 basis point rate cut.
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Analysis: Focus on the $99,000 historical price equilibrium line, which has not been able to rise above after previous bull/bear conversions.
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