.comBitcoin (BTC) and Ethereum (ETH) have been unable to reverse their downward trend and remain under pressure. BTC is currently trading around the $23,500 level as investors opt for safer investment options amidst growing macroeconomic uncertainties. This has caused concerns among investors and traders about inflation and the potential for interest rate hikes.The global cryptocurrency market has seen a downturn, with Bitcoin struggling to surpass the critical $23,750 resistance level, which could result in a drop in price to $22,800. Ethereum has also experienced a 0.99% decrease in its value.In response to the poor economic data, the US Census Bureau released data indicating that orders for durable goods in the US declined by $13 billion or 4.5% to reach $272.3 billion in January, which is slightly lower than market expectations of a 4% decline. This has increased the pressure on the Federal Reserve to end its interest rate hike program earlier than expected.The Financial Services and Markets legislation is expected to allow the Bank of England’s Prudential Regulation Authority to support global economic growth. Additionally, traders will be closely monitoring the release of China’s February Purchasing Managers’ Index (PMI) on Wednesday, as well as consumer sentiment and labor market indicators for January and Q4.Any indications of economic strength in the US could give the Fed more room to continue raising interest rates, which could be negative for cryptocurrencies. Investors in the cryptocurrency market have many options beyond Bitcoin (BTC) and Ethereum (ETH). The Cryptonews Industry Talk team has compiled a list of the top 15 altcoins to watch in 2023, which is regularly updated with new ICO projects and altcoins. Cryptonews.com also provides a cryptocurrency price tracker to help investors find the best price to buy and sell cryptocurrency.
