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Data from TradingView shows that the market hit a point of max pain in the early hours on Wednesday, with BTC hitting a low of $18,550 before bullish reinforcements arrived in an attempt to bid its price back above support at $19,000. At the time of writing, that attempt has thus far failed, and Bitcoin is trading at $18,925.
Ether, likewise, was hit hard by Tuesday’s downturn after rallying in the early trading hours following the successful integration of the Bellatrix hard fork.At the time of writing, Ether is trading at a price of $1,540, marking a decline of 8.71% from Tuesday’s high. The weakness in the crypto market has been exacerbated by the surging US Dollar, which hit a multi-decade high on Tuesday as asset prices plunged across global financial markets.
Insight into what to look out for next was provided by independent market analyst Michaël van de Poppe, who posted the following tweet highlighting the importance of the next 48 hours: In the coming 48 hours, I'm interested to see, whether;Can be giving a direction of the markets.
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