A range-break from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week
2022.09.06 10:17
A range-break from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week
The decline in the United States equities markets last week extended the marketwide losing streak to three consecutive weeks. The Nasdaq Composite fell for six days in a row for the first time since 2019. The market’s negative reaction to a seemingly positive August jobs report suggests that traders are nervous about the Federal Reserve’s future steps and its effects on the economy.
Weakness in the U.S. equities markets pulled Bitcoin (BTC) back below $20,000 on Sept. 2 and the bears sustained the price below the level during the weekend. This pulled Bitcoin’s market dominance to just under 39% on Sept. 4, its lowest level since June 2018, according to data from CoinMarketCap.
