{"id":26750,"date":"2023-12-17T17:26:25","date_gmt":"2023-12-17T17:26:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-8-week-win-streak-is-in-danger-but-atom-fil-egld-and-algo-dont-care\/"},"modified":"2023-12-17T17:26:27","modified_gmt":"2023-12-17T17:26:27","slug":"bitcoins-8-week-win-streak-is-in-danger-but-atom-fil-egld-and-algo-dont-care","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-8-week-win-streak-is-in-danger-but-atom-fil-egld-and-algo-dont-care\/","title":{"rendered":"Bitcoin’s 8-week win streak is in danger, but ATOM, FIL, EGLD, and ALGO don’t care"},"content":{"rendered":"
Bitcoin\u2019s (BTC) eight-week winning streak is likely to end as the price is down nearly 4% this week. The recent weakness indicates profit-booking by traders but it does not change the short-term uptrend. The pullback will also help reduce the froth that may have been building.<\/p>\n
After the initial shakeout, strong hands are likely to re-enter the crypto market as the macro environment remains bullish for risk-assets. The decision by the Federal Reserve to pause rate hikes and possibly reduce rates in 2024 could further boost demand for crypto products.<\/p>\n