December 8, 2022

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Bitcoin falls to the lows of the day

1 min read

Crypto also feeling the volatility today

Bitcoin rose as high as $39,554 today but is now at a session low at $37,710. That’s the lowest since Elon Musk gave it another lift on Sunday.

Unlike some commodity markets, bitcoin is comfortably within recent ranges. I worry though that the failure to hold above $41,000 signals a short-term top.

Bitcoin

On the fundamental side, a strengthening US dollar and diminishing concerns about inflation are both negatives, though I suspect that’s only a small factor.

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