- As per reports, Wall Street has become extremely defensive ahead of this week’s major risk events.
- Meanwhile, the US Dollar Index became stronger as compared with the weak risk asset market.
- Block traders are looking for a potential short-term pullback.
According to the latest findings by crypto market analysis, the abrupt dip of 4% in the price of Bitcoin yesterday was due to a decrease in risk appetite. The decrease in risk appetite is especially significant as the Federal Reserve’s upcoming Federal Open Market Committee (FOMC) meeting will be held tomorrow.
1/6. BTC was dipping at $22.7k before the upcoming FOMC meeting on Thursday, down more than 4% over the past 24 hours and well off its high Sunday near $24,000. The rise in investor risk aversion is one of the important reasons for the price drop. pic.twitter.com/dcGvNdxwer— Blofin Academy (@Blofin_Official) January 31, 2023
The post 4% Drop In Bitcoin Is Due to Decrease in Risk Appetite: Report appeared first on Coin Edition.