BTC Market Update 22 Apr 22

Looking at the BTC chart for the 4H TF, the market has been showing strong selling pressure among the spot market. The reason that made a huge drop was driven by the US announcing a sanction of one of the biggest Bitcoin mining companies, Bitriver, in Russia and the Fed rates hikes in May.

Overall, the market is looking bearish and the support for BTC is seeing at around $39,200 that it needs to hold.

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