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Most Bitcoin (BTC) traders would rather see a sharp price correction and a subsequent recovery than agonize for multiple months below $24,000. However, BTC has been doing the opposite since June 14 and its most recent struggle is the asset’s failure to break above the $22,000 resistance. For this reason, most traders are holding back their bullish expectations until BTC posts a daily close above $24,000.

Events outside of the crypto market are the primary factor impacting investors' perspectives on digital assets and on July 14, United States Treasury Secretary Janet Yellen warned that inflation is "unacceptably high" and she reinforced the support of the Federal Reserve’s efforts. When questioned about the impact of rising interest rates on the economy, Yellen recognized the risk of a recession.

On the same day, JPMorgan Chase reported a 28% decline in profits versus the previous year despite recording stable revenues. The difference comes chiefly from a $1.1 billion provision for credit losses because of a "modest deterioration" in its economic outlook.

Bitcoin’s correlation to the S&P 500 remains incredibly high and investors fear that a potential crisis in the global financial sector will inevitably lead to a retest of the $17,600 low from June 18.

The correlation metric ranges from a negative 1, meaning select markets move in opposite directions, to a positive 1, which reflects a perfect and symmetrical movement. A disparity or a lack of relationship between the two assets would be represented by 0.

In the fourth episode of Market Talks we welcome YouTube media creator and crypto educator Crypto Wendy O

Crypto Wendy O is a YouTube Media Creator and Crypto Educator. Wendy became interested in Cryptocurrency and Blockchain technology in November of 2017. She has been into crypto full time since summer of 2018 and focuses on providing transparent marketing & media solutions for blockchain companies globally. Wendy also provides free education via YouTube and Twitter to her growing audience of over 170K. Oh and she is also the largest female crypto influencer in the world.

Some of the topics up for discussion with Wendy are, the new consumer price index (CPI) numbers and how they might impact the crypto market going forward and why there is so much uncertainty in the market right now?

As everyone tries to figure out where the Bitcoin (BTC) bottom might lie, we ask Wendy what her opinion on the matter is where she think the bottom might be. We also discuss whether Ethereum (ETH) has out performed BTC during this current bear market and what that might mean for the second largest cryptocurrency.

With more and more crypto platforms filing for bankruptcy, we discuss how much longer the crypto contagion will continue for and what is the best way to safeguard your assets so you don't lose your hard earned money. Are hardware wallets a better option rather than keeping your crypto on online exchanges?

Bitcoin (BTC) avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous.

Analyst: "No way" Bitcoin bottomed at $17,500

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day.

Wall Street opened with losses, the S&P 500 and Nasdaq Composite Index both down around 1.8% at the time of writing.

Bitcoin nonetheless managed to hold its own as the largest cryptocurrency's correlation to stocks fell to its lowest levels of 2022 so far.

That said, few were willing to say that the worst was over for hodlers.