Bitcoin (BTC) once again could not defend the $10,000 level, spending the last day in a long slide. BTC traded at $9,775.70 as of 6:45 UTC on Tuesday. Trading volumes kept to their usual level at above $15 billion’s equivalent in 24 hours, as markets once again face uncertainty.
The BTC fear and greed index moved down a few notches into the “Fear” territory, where it has spent the time in the past weeks. BTC remains more or less directionless, depending on short-term sentiment.
Prominent trader Peter Brandt pointed that BTC may act against the high hopes for another rally to a yearly peak. He sees BTC as currently threatened by its descending triangle: