Bitcoin (bitcoin) dip Below the $40,000 level on Jan. 10 This is the first time since September 2021.Crypto markets are not alone as U.S. stocks also see a strong sell-off when traders choose to trade reduce The 10-year U.S. Treasury yield surged to 1.8% from 1.51% at the end of 2021.

On January 9, Goldman Sachs chief economist Jan Hatzius, Say The Fed is likely to raise interest rates by four quarters of a percentage point in 2022.

Analyst Alex Krueger also warned that the crypto market It may not be possible to ignore the Fed If it “decides to go all out to wield the deflationary machete”. He is not alone, as former BitMEX CEOs Arthur Hayes and Pentoshi also predicted a bearish picture.

Daily cryptocurrency market performance. source: Coin 360

Quant analyst Benjamin Cowen gave the bulls some hope, saying that the “extreme fear” level of the Crypto Fear and Greed Index has only occurred four times since 2018, followed by Bullish reversal leads to strong returns Bitcoin is between 17% and 1,585%.

Can Bitcoin and major altcoins start a sustained recovery, or will support give way? Let’s study the chart of the top 10 cryptocurrencies to find out.