Price analysis 4/11: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

2022.04.12 01:06

Price analysis 4/11: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

Bitcoin (BTC) and most major altcoins have broken key support levels to start the week on a weak note. The crypto markets seem to be following the U.S. equity markets, which are being pulled down as investors reduce exposure to risky assets because of rising rates.

Arthur Hayes, ex-CEO of derivatives giant BitMEX, said that with rates moving higher and the Fed tapering its asset purchases, the equity markets could witness a meltdown. If that happens, Hayes expects the crypto markets to continue lower and Bitcoin to drop to $30,000 and Ether (ETH) to $2,500 by June of this year.

AVAX/USDT daily chart. Source: TradingView

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