Bitcoin currently trading at critical price level
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
McGlone explained that Bitcoin was climbing against gold the last time the S&P 500 e-mini future crossed above its 50-week moving average in November, but now the Bitcoin/gold cross is falling. The slumping Bitcoin/gold cross, in contrast to the S&P 500's performance, might indicate a potential reversal in risk assets that could have far-reaching consequences.At the time of writing, BTC was down 3.29% in the last 24 hours to $60,779 as the crypto market faced selling pressure. According to crypto analyst, Bitcoin currently trades at a crucial level; failure to hold at $60,000 may result in selling to $55,000 or $52,000, after which the rising trend continues.
Measured from the above $73,000 all-time high reached in mid-March, Bitcoin prices fell by nearly 20%, which is the deepest correction on a closing basis since the FTX lows in November 2022. Howbeit,deduces that this macro uptrend might be one of the most resilient in history, with comparatively shallow corrections thus far.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
ChainGPT Pad Launches Wisdomise AI IDO to Bring Inclusive, AI-Powered Wealth Management Tools to Web3
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.
Bloomberg Analyst Issues a Warning for the Upcoming Hong Kong Bitcoin, Ethereum ETFsCrypto Blog
Read more »
Former Obama Strategist Warns Biden Against ‘Pride’ in 2024 Economic MessagingSee multiple perspectives from The Hill, HuffPost, and Fox News (Online News) at AllSides.com.
Read more »
Ex-Obama strategist warns of ‘terrible mistake’ that could cost Biden the White HouseDavid Axelrod, a Democratic strategist who worked in the Obama administration, slammed Joe Biden on his economic messaging in a CNN interview Wednesday.
Read more »
Marjorie Taylor Greene Is Losing 'Sway' With Donald Trump: GOP StrategistGreene's efforts to oust House Speaker Mike Johnson comes at a 'not good' time for Trump, said Susan Del Percio.
Read more »
What to know about Trump strategist's embrace of AI to help conservativesBrad Parscale says Campaign Nucleus can use AI to help generate customized emails, parse oceans of data to gauge voter sentiment and find persuadable voters.
Read more »
What to know about Trump strategist's embrace of AI to help conservativesBrad Parscale, the digital guru behind Donald Trump's surprise 2016 presidential victory, has become an evangelist about the power of artificial intelligence to transform how Republicans campaign for office.
Read more »