Bitcoin (BTC) dipped below the $40,000 level on Jan. 10 for the primary time since September 2021. The crypto markets weren’t alone because the U.S. fairness markets additionally witnessed sturdy promoting when merchants selected to reduce danger and piled into the 10-year Treasury yield, which surged to 1.8% from 1.51% on the finish of 2021.

On Jan. 9, Goldman Sachs chief economist, Jan Hatzius, said that the U.S. Federal Reserve might improve charges by 4 quarter-percentage factors in 2022.

Analyst Alex Krüeger additionally warned that crypto markets may not be able to ignore the Fed if it “decides to go all out wielding a deflationary machete.” He was not alone as ex-BitMEX CEO Arthur Hayes and Pentoshi additionally projected a bearish image.

Each day cryptocurrency market efficiency. Supply: Coin360

Quant analyst Benjamin Cowen gave some hopes to the bulls when he mentioned that ranges of “excessive worry” on the Crypto Concern & Greed Index occurred solely 4 occasions since 2018 and people have been adopted by bullish reversals resulting in strong returns between 17% to 1,585% in Bitcoin.

Might Bitcoin and main altcoins begin a sustained restoration or will the assist ranges give manner? Let’s examine the charts of the highest 10 cryptocurrencies to seek out out.