Bitcoin price coma greets Wall Street open amid signs market ‘calling for rally’
BTC price is yet to decide on a target as $30,000 just about holds into the new week’s Wall Street trading.
BTC price is yet to decide on a target as $30,000 just about holds into the new week’s Wall Street trading.
Bitcoin is getting a dose of reality this week as the World Economic Forum convenes and analysts still favor a fresh BTC price drop.
The weekly chart looks decidedly grim for BTC/USD despite a lack of volatility over the weekend.
Down 20% from its latest peak, the S&P 500 now meets the definition of bear market territory in a warning sign for risk assets everywhere.
Based on historical tendencies, $22,700 could now mark the next “generational bottom” for Bitcoin, new analysis says.
Macro conditions flip to reduce pressure on risk assets, as one view gives Bitcoin bears $14,000 capitulation “hopium.”
It could be “do or die” for Bitcoin bulls if BTC/USD returns under $27,000, Whalemap argues.
Tesla’s removal from the S&P 500 adds to an already bearish trajectory while BTC/USD stays stuck below $30,000.
Shock earnings reports contributed to fresh market weakness, depriving Bitcoin and altcoins of any new gains.
Bitcoin could reach its highest since the Luna meltdown next, one trader argues, while others feel that the bottom is not yet in.