Market Wrap: Bitcoin Flat at $37K as Investors Tangle With Bulls and Bears
Positive news from El Salvador couldn't completely overcome negative news out of China.
Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
Bitcoin tests $40K following positive comments from Tesla's CEO Elon Musk and hedge fund manager Paul Tudor Jones.