Crypto Market Crashes as Bitcoin Reaches $21

Crypto Market Crashes as Bitcoin Reaches $21,000

1. The recent positivity on the market is nothing but a correction within the prolonged downtrend the market entered back in December.
2. Bitcoin is breaking important support levels, and the only significant support level left is at $19,000.
3. The lack of inflows to the market and the anemic trading volume is preventing short-term rallies from accelerating further.
4. The U.S. dollar rally reflected in the DXY index is putting pressure on risk assets, including cryptocurrencies and tech stocks.
5. Alternative digital assets are facing technical issues that are fueling the most recent rally.
6. The majority of altcoins have reached their local support levels, which means we might see a mild bounce on the weekend.

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