BTC Muted After Crypto Goes Unmentioned in Musk-Trump Interview

One bitcoin analyst sees renewed losses in the brief time period, with the price falling by $5,000 from the going market rate of around $58,500. “Bitcoin is prone to fall by $5K reasonably than rise by the identical quantity,” Alex Kuptsikevich of FxPro mentioned in an e mail. Kuptsikevich’s bearish take stemmed from bitcoin’s failure to maintain features above $60,000 in the wake of the dying cross, a bearish crossover of the 50- and 200-day easy shifting averages. “Bitcoin doesn’t break above $60K and faces promoting after it tried to interrupt above the 50- and 200-day MAs late final week, exhibiting vendor dominance,” Kuptsikevich famous. He added that the 14-day relative energy index (RSI) now not reveals oversold situations, which implies scope for one more leg decrease, in keeping with the current vendor dominance above $60,000.