, 2022-12-27 09:34:03,
Bitcoin (BTC) saw a fresh hint of volatility at the Dec. 27 Wall Street open as United States equities began the final trading week of the year.
Bitcoin ekes out fresh volatility
Despite involving a move of only $150, the event was still noticeable on lower timeframes, Bitcoin having shunned any form of volatility for multiple days.
The move came in response to a 0.6% drop in the S&P 500 at the open, with the Nasdaq Composite Index dropping 1.4%.
The U.S. Dollar Index (DXY) responded in kind, making up for ground lost earlier to return to its position from Dec. 25.
With BTC moves still comparatively muted, analysts’ attention focused on potential catalysts, with BNB (BNB) still a source of concern amid ongoing “FUD” over its issuer, the largest global crypto exchange, Binance.
“The biggest risk to the Crypto market is BNB,” Matthew Hyland reiterated on Dec. 26.
“It currently has $38.4 Billion Market Cap. Potentially could see $20+ Billion wiped out if support doesn’t hold. How much of it is being used as user collateral to support other coins? A BNB breakdown would carry over elsewhere.”
BNB/USD still traded above the $240 mark on the day, this featuring as an important line in the sand for bulls to maintain.
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