Bitcoin price falls almost below $35,000 - stock markets gain $739 billion in just a few hours

Bitcoin price falls almost below $35,000 - stock markets gain $739 billion in just a few hours

According to a report by www.fxstreet.de.com Bitcoin price is currently at $35,530 and is in danger of losing critical support. The release of the CPI data in the US led to a correction in the crypto market, while the stock markets rose by more than $700 billion in a few hours.

The rising stock markets and the correction in the Bitcoin price have shown that the markets are still in a volatile phase. Inflation data in the US led to a rise in the stock market, with significant gains for companies such as Microsoft, Apple, Tesla, Meta and Amazon. The resulting capital inflows amounted to over $700 billion.

Interestingly, there is a positive correlation between the stock markets and Bitcoin, suggesting that the overall market's impact on the crypto space may not be as strong as expected. Despite the correction in Bitcoin's price, the market has continued to show some resilience.

However, the Bitcoin price correction could continue in the coming days as a bearish trend reversal is emerging. The MACD suggests a bearish crossover, indicating an intensified downtrend. The next key support level is at $33,901, and a break below this level could lead to a further decline in Bitcoin price to $31,507.

Current events indicate continued volatility in both the crypto and stock markets. A turnaround in Bitcoin's price could impact the entire financial industry as investors may rebalance their portfolios and look for safe investments. The next few days will be crucial to observe whether the crypto market can regain stability or whether further corrections are imminent.