Bitcoin could consolidate for a few more days but select altcoins have formed reversal patterns that may lead to a trending move.
Investors are concerned about the stability of the cryptocurrency market after it was faced with a flurry of adverse news in the past few days.
Fortunately, the markets have matured to the extent that negative news no longer provokes wild price swings like they once did in crypto’s early days.
The current stability shows that institutional investors do not consider the recent KuCoin hack, CFTC and DOJ charges against BitMEX, or even President Donald Trump being diagnosed with coronavirus as serious enough events to crash the crypto markets.
Therefore, there was no panic liquidation in Bitcoin (BTC) futures after the news broke and the open interest remained stable.
Crypto market data daily view.