Bitcoin Falls Below $49K as Trading Volume Weakens, Altcoins See Red

“The long-term bull case remains for bitcoin, but everything in the short-term seems bearish,” Edward Moya, senior market analyst at Oanda, said in an email. “Bitcoin will need to overcome growing expectations for a stronger dollar, an extended altcoin season and short-term bearishness for risk assets as Omicron derails reopening momentum.”