The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, is acting inside a narrowing range, still hovering around $9,000. Meanwhile, we’re also seeing a decrease in volume, alongside an increasingly shaky stock market, which is likely to impact Bitcoin as well (read the recent analysis here).
However, would a retrace towards $7,700 be a bad cause for the markets or is it crucial to sustain above $9,000 for any bullish momentum?