Elon Musk warns of ‘strong inflationary pressure’ as Tesla mulls Bitcoin payments

Recession fears mount as a 20% decline in the S&P 500 places stock in a bear market, increasing the chance that BTC and altcoins will make new lows.

The Republican congressman is supporting Sen. Tommy Tuberville’s Senate bill and financial services companies that want to include crypto in their 401(k) product offerings.

BTC and altcoins produced the occasional relief rally, but technical analysis suggests that the prevailing trend will remain bearish for some time to come.

Declining demand for Tether and negative futures premiums for altcoins reflect a growing disinterest from crypto investors.

Based on historical tendencies, $22,700 could now mark the next “generational bottom” for Bitcoin, new analysis says.