Bitcoin's Weakness May Signal Caution For Traditional Risk Assets

According to Odaily, FxPro Senior Market Analyst Alex Kuptsikevich has indicated that Bitcoin's recent weakness could serve as a warning for traditional risk assets. Kuptsikevich stated, 'The weakness in cryptocurrencies may reflect a very limited risk appetite, and other markets might soon follow the trend set by cryptocurrencies.' Bitcoin has experienced a decline for nine consecutive days over the past 11 days as it attempts to consolidate above the 200-day moving average, leading to significant sell-offs. This pattern continued into Thursday morning, with prices testing the lowest levels seen in the past four months. Kuptsikevich noted that Bitcoin might struggle to maintain strength despite the recent weakness in the US Dollar Index.