Bitcoin’s Fall is Due to Capital Moving to Commodity Markets
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Traders in the stock markets are exhibiting weak activity on Monday, July 17.
While most investors are allocating capital between technology stocks and commodities, which has led to a minor increase in oil and precious metals prices, digital currencies are starting to correct.
As of this review, Bitcoin is currently trading for $30,020, much lower than it was close to last week’s $32,000.
CryptoQuant’s SOPR index rose to 1.0031 on July 16, meaning that the number of profitable transactions for the sale of cryptocurrency is increasing, indicating an improved financial condition for traders and thus reduced risk of a significant sell-off in the cryptocurrency market.
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