FxPro analyst: Bitcoin weakness could be a warning for traditional risk assets

FxPro senior market analyst Alex Kuptsikevich said Bitcoin’s weakness could be a warning for traditional risk assets, saying: “The weakness in cryptocurrencies could be a sign of very limited risk appetite, and the rest of the market could soon follow suit. Bitcoin fell for the ninth consecutive day in the past 11 days as it attempted to consolidate above its 200-day moving average, sparking an intense sell-off. This pattern continued into Thursday morning as prices continued to test lows from the past four months. Bitcoin may not be able to gain lasting strength from the recent weakness in the U.S. dollar index,” (Coindesk)