FxPro Analyst: Bitcoin's Weakness Could Be a Warning for Traditional Risk Assets

Alex Kuptsikevich, Senior Market Analyst at FxPro, said Bitcoin's weakness could be a warning to traditional risk assets, stating: “The weakness in cryptocurrencies could be a symptom of a very limited risk appetite, and the rest of the market may soon follow the cryptocurrencies' lead. Bitcoin fell for the ninth consecutive day in the past 11 days as its attempt to consolidate above its 200-day average triggered a strong sell-off. This pattern continued into Thursday morning as prices continue to test the lows of the past four months, and bitcoin may not be able to gain lasting strength from the recent weakness in the U.S. Dollar Index.