Institutional Analyst Joanna Ossinger: It looks like the state of cryptocurrencies is bad right now. For a coin already struggling with Fed rate hikes and a sell-off in risk assets, the fiery U.S. inflation data only added to the woes.
Bitcoin has fallen for the seventh day in a row and has broken out of its most recent decline range. This makes Bitcoin likely to test the 200-week moving average around $22,300, or even the 2017 high of $19,511.
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