This week, Bitcoin’s (BTC) price took a tumble as a hotter-than-expected consumer price index (CPI) report showed high inflation remains a persistent challenge despite a wave of interest rate hikes from the United States Federal Reserve.

With that being the case, it is perhaps time to start looking elsewhere for emerging trends and possible opportunities.
Here are a few data points that I’ve continued to be intrigued by.

As covered thoroughly by Cointelegraph, oversold conditions, along with the hype of Cosmos 2.0, backed the bullish price action seen in the altcoin, but this chart continues to capture my imagination.

There is still the possibility of a sharp downside in Bitcoin’s price, so traders are encouraged to calculate investment size according to their own appetite for risk, and while multiple metrics might support opening long positions in various crypto assets, it still seems too early to fully ape in.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com.
Source: Cointelegraph
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