Market Analysis by Investing.com (Damian Nowiszewski) covering: BTC/USD, Bitcoin, Ethereum. Read Investing.com (Damian Nowiszewski)'s Market Analysis on Investing.com
For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttonhas experienced a roller-coaster ride in recent days, with prices swinging wildly almost daily. The cryptocurrency's downward trajectory reflects a broader risk-off sentiment that has swept financial markets.
The absence of major US economic data releases in the second half of the week may lead to temporary calm. However, the overall market sentiment remains cautious, and further volatility is expected in the near term.Recent declines in Bitcoin stem from heightened recession risks in the U.S., following disappointing labor market data and escalating conflict in the Middle East. Investors have reacted strongly, with trading volumes surging to $1.
Political factors also influence the digital currency market. Following an assassination attempt on Donald Trump and his controversial statements about potentially including Bitcoin in U.S. strategic reserves, political dynamics have shifted. The Democratic side saw a change with Kamala Harris replacing Joe Biden as the presidential candidate, bringing poll results closer and making it difficult to identify a clear favorite until the election.
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