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Bitcoin price consolidation could give way to gains in TON, APE, TWT and AAVE

Published 12/04/2022, 02:03 PM
Updated 12/05/2022, 10:20 AM
© Reuters.

© Reuters.

The United States equities markets shrugged off the hotter-than-expected labor data on Dec. 2 and recovered sharply from their intraday low. This suggests that market observers believe the Federal Reserve may not change its stance of slowing the pace of rate hikes because of the latest jobs data.

Although the FTX crisis broke the positive correlation between the U.S. equities markets and Bitcoin (BTC), the recent strength in equities shows a risk-on sentiment. This could be favorable for the cryptocurrency space and may attract dip buyers.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
TON/USDT daily chart. Source: TradingView
TON/USDT 4-hour chart. Source: TradingView
APE/USDT daily chart. Source: TradingView
APE/USDT 4-hour chart. Source: TradingView
TWT/USDT daily chart. Source: TradingView
TWT/USDT 4-hour chart. Source: TradingView
AAVE/USDT daily chart. Source: TradingView
AAVE/USDT 4-hour chart. Source: TradingView

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