Market Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Bitcoin’s recent dip raises questions about whether its post-election rally has run its course.'s recent decline of over 3% marks the first significant dip since its rally began following the US Presidential election on November 5. While the pullback can partly be attributed to comments from JeromeThe surge in Bitcoin's price after Donald Trump's election victory can largely be credited to his promises to support the crypto sector, which had investors bullish.
Despite the recent downturn, the broader bullish trend remains intact. Stable political prospects in the US, coupled with expectations for a strong economy, should help maintain investor appetite for risk. However, with the recent surge in Bitcoin’s price, these corrections may pose risks for short-term traders. That said, many investors are viewing these dips as opportunities to buy the dip, anticipating a potential altcoin rally as Bitcoin continues to gain ground.
Bitcoin’s bullish trend, which began in September, saw it close above the $80,000 resistance level last week. This week, Bitcoin tested the $92,470 resistance level, a key Fibonacci point. However, rapid selling at this level suggests that Bitcoin may struggle to break above it for now. If Bitcoin fails to hold the $87,200 region, we could see a dip to $84,700, with further declines possible if it drops below $80,000.
In summary, Bitcoin’s recent dip, while notable, could be a buying opportunity for long-term investors, especially if it finds solid support at key levels. The broader bullish outlook remains intact, but market watchers should closely monitor technical levels for any signs of deeper corrections.This article is written for informational purposes only.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin: Break Above 80K a Bull-Trap? Watch Price Action Near Key Levels for CluesMarket Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin: Follow-Through Move Increasingly Likely After Shattering ATH on Trump WinMarket Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin: Rising Yields, US Dollar Strength Threaten Bulls' Potential Push to ATHMarket Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin Takes a Pause - But $75k Still on as OTC Inflows DeclineMarket Analysis by MarketPulse (Zain Vawda) covering: Bitcoin US Dollar, Bitcoin. Read MarketPulse (Zain Vawda)'s Market Analysis on Investing.com
Read more »
Bitcoin’s Bull Run: On-Chain Data Signals New Demand, $100k in Sight?Market Analysis by MarketPulse (Zain Vawda) covering: SPDR® Gold Shares, Bitcoin US Dollar, Bitcoin. Read MarketPulse (Zain Vawda)'s Market Analysis on Investing.com
Read more »
Bitcoin: What Can Derail a Rally to $80,000+?Market Analysis by Dr. Arnout ter Schure covering: Bitcoin US Dollar, Bitcoin. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com
Read more »