Bitcoin Continues to Fall at $23k but Widens Gap with Ethereum

© Reuters


However, Bitcoin’s fluctuations are still in consolidation for the moment and the cryptocurrency is still showing a positive profile, maintaining nearly 7% weekly gains at the time of this writing.

However, this is not the case for , which has corrected significantly more than Bitcoin since yesterday, falling nearly 5%, leaving its 7-day performance at -1.64%. Thus, the value of Ethereum in Bitcoin () marked a low at $0.0678 yesterday, the lowest level since November 2022.

As for the next events that are likely to give a clearer direction to Bitcoin or Ethereum, it should be noted that this Wednesday’s day will be easy from a macroeconomic point of view.

However, tomorrow could be decisive for cryptocurrencies and risky assets in general with the release of the first US GDP estimate for the last quarter of 2022.

Finally, graphically, we can identify short-term support at $22,300 and then $22,000 while the $23,000/$23,300 zone remains the first resistance to consider. When it comes to Ethereum, the first key support is the $1500 area and on the $1590/1600 upside is the first significant hurdle.

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