Why Bitcoin Could Frustrate Bulls And Bears In 2022

Why Bitcoin Could Frustrate Bulls And Bears In 2022

Bitcoin has been on a downtrend for the past days recording a 1.8% loss in 24 hours and a 10.5% correction in seven days. The benchmark crypto seems to be reacting to macro-economic factors and could see further downside in the short term.

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As of press time, Bitcoin trades at $42,076 after testing the levels around $40,500. Remains to be seen if current levels will hold and if the crypto market will experience recovery or continue its downside trend into the $30,000s.

BTC on a downtrend in the 4-hour chart. Source: BTCUSD Tradingview

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Today’s sell-off was apparently triggered by the release of the U.S. unemployment report. In December

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