Bitcoin Levels Off, Recovery Sluggish
Bitcoin edged up 0.9% to around $108,516 on Wednesday morning, but remains near its latest low after the flash crash in early October. Cryptocurrency recovery momentum appears to be weakening as global risk appetite has yet to recover, limiting price gains.
Market sentiment is weighed down by US economic uncertainty and resurgent US-China trade tensions. The risk-off movement in financial markets and overnight gold decline also did little to divert flows into crypto. For further direction, market participants are awaiting new triggers from US economic data, central bank policy signals, and regulatory news/fund flows into crypto assets. (asd)
Source: Newsmaker.id