Bitcoin slips to $27k.

London: 11 October 2023 (TraderMade): On Wednesday, during Asian noon hours, Bitcoin experienced a slip of 1.2%, trading just over $27,000. Hamas-Israel conflict scenarios are worsening, shattering investors' confidence in riskier assets. The prices were expected to lower earlier this week as Gold and oil were more favored.

Over the past week, Gold and oil prices have risen by as much as 6%. However, Cryptomarkets have declined over 1.6% during the past 24 hours. Ether also fell by 2.2%, extending the weekly loss to around 5%.

Financial market analysts said that Bitcoin's attempt to break the $28,000 level activated a selling wave, reducing the price to $27,000. This trend suggests that investors must still be ready to hold their amounts in risky bets.

"It is interesting to note that Bitcoins were facing pressure when the risk appetite for the traditional market started recovering. "Analysts said this while citing U.S. stock gains on Tuesday. "This can be attributed to the U.S. defaulted debt markets on Monday, instead of the money movement among the assets."

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