The recent price plunge dragged the complete crypto space lower because so many of the crypto assets witnessed a large price drain. The very best cryptos like Bitcoin (BTC), Ethereum(ETH), etc and more have gone the investors in deep pain because the bullish momentum has eased significantly.
THE UNITED STATES stock markets have already been on the downside for some time since the Feds SEC rolled out new CPI rates. The markets closed lower through the previous trading day accompanied by Dow Jones & NASDAQ which also dropped heavily. Meanwhile, the U.S Treasury yields gained finely, however the concerns on the raised interest levels prevailed.
Mainly because of the reason that the crypto markets get heavily influenced because of the rise in the bond yields. However, regardless of the market conditions getting diluted ahead in future and the sentiments coil up, the Bitcoin (BTC) or Ethereum(ETH) or any cryptos might not reach the ATH anytime soon.
As ETH/BTC is experimenting and the trading volume on NFTs has dropped by nearly 95%. Therefore, the analyst believes that regardless of the markets peaked a lot more than 85%, a drastic drop could make its way to avoid it.
Collectively, the market trends seem to be pretty shaky and therefore significant price volatility could be incoming. The upswings if occurs ahead may only be minor and a short-term bounce are certain to get nullified within the next few days ahead.