Trader Eugene Ng Ah Sio Admits Mistakes, Increases Long Positions in ETH and SOL
AI Summary1 min read
TL;DR
Bitcoin fell to a 7-month low of $80,553, with ether at a 4-month low, driven by risk aversion. Analysts warn that a drop below $80,000 could cause heavier losses, amid concerns over tech valuations and US rate cuts.
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BitcoinEthereumCryptocurrencyMarket AnalysisRisk Aversion
Bitcoin has fallen to a 7-month low of $80,553, with ether hitting a 4-month low, as cryptocurrencies lead a broad flight from riskier assets. Analysts warn that if bitcoin drops below $80,000, it could lead to much heavier losses. The cryptocurrency market has been impacted by investor worries over lofty tech valuations and uncertainty over near-term US interest rate cuts.
