Bitcoin (BTC) tried to violate native lows on Sep. 16 as the newest cross-crypto downtrend intensified.

No aid for BTC bulls put up Merge

Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD approaching $19,600 on the time of writing, with purchaser assist simply avoiding an extra drop.

The extent had remained in place as an intraday flooring because the Ethereum (ETH) Merge concluded, solely to spark a sell-off, which took ETH/BTC towards three-week lows.

Amid the gloomy temper, merchants and analysts confirmed little inclination to reassess their market outlooks.

“I really feel assured with the state of affairs of fast pump to 23k on BTC and 1800 on ETH and massive dump from there,” Il Capo of Crypto wrote, reiterating a long-held concept.

“Time will inform.”

Warning that the scenario “doesn’t look good,” in the meantime, fashionable account CryptoBullet demanded a reclaim of the 100-period transferring common (MA) to flip bullish on the 4-hour chart.

Now this does not look good

Similar situation – reclaim the MA100 and I’ll be bullish pic.twitter.com/sbogDrqkcE

— CryptoBullet (@CryptoBullet1) September 16, 2022

Dalio: Fed fee hikes will see shares tumble

After an extra day of losses on United States equities, in the meantime, investor Ray Dalio drew some contemporary bearish conclusions about what the present inflationary local weather would imply for the markets.

Ethereum merchants shorted ETH worth in file numbers throughout the Merge — 50% crash forward?

In his newest blog postprinted on Sep. 13, Dalio predicted the mixed injury for shares would value them 30% of their present valuation.

“The rise in rates of interest may have two kinds of adverse results on asset costs: 1) the current worth low cost fee and a couple of) the decline in incomes produced by belongings due to the weaker financial system. We now have to have a look at each,” he defined.

“What are your estimates for these? I estimate {that a} rise in charges from the place they’re to about 4.5 % will produce a couple of 20 % adverse impression on fairness costs (on common, although higher for longer length belongings and fewer for shorter length ones) primarily based on the current worth low cost impact and a couple of 10 % adverse impression from declining incomes.”

That will spell hazard throughout highly-correlated crypto markets, with Bitcoin thus taking purpose at ranges nearer to $10,000.

As Cointelegraph reported, that quantity is at the moment no stranger to long-term forecasters’ radar.

The Federal Reserve is tipped to enact an extra 75-basis-point rate of interest hike at subsequent week’s assembly of the Federal Open Markets Committee (FOMC), with some market members even anticipating 100 foundation factors, based on information from the CME FedWatch Tool.

The views and opinions expressed listed below are solely these of the creator and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it is best to conduct your personal analysis when making a choice.