Cryptocurrency prices are being hit by a higher U.S. dollar and falling stock markets as the Federal Reserve continues to tighten policy to fight inflation.
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"If we see the dollar start to move back down, then we should be able to get risk assets such as bitcoin move back up again." The sell-off has been caused by a tough environment for risk assets as well as crypto-specific issues includingBitcoin has been trading within a tight range of between $18,000 to $24,000 since June. Luno's Ayyar said that in forming a bottom,"bitcoin typically likes to go back and test previous lows to see if they hold as support."
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