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Bitcoin price surges to $43K, but traders warn that ‘real pain’ is due for altcoins

Published 01/11/2022, 12:31 PM
Updated 01/11/2022, 08:20 PM
© Reuters.
BTC/USD
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BTC/USD
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ETH/USD
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Bitcoin (BTC) fell slightly into the Wall Street open on Jan. 11 after the largest cryptocurrency failed to crack resistance above $42,000, but fresh comments from U.S. Federal Reserve chair Jerome Powell appear to be providing a boost to markets.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

According to Powell, the United States is likely to remain in a low-interest environment for some time, a comment that stocks and risk-on assets like cryptocurrencies seem to appreciate.

Crypto Fear & Greed Index. Source: Alternative.me
ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

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