2020-1-26 11:41 |
China is still impacting Bitcoin, according to analysts, as price action turns negative in the wake of coronavirus and new year celebrations.
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Bitcoin traded to intraday lows of $70,500 amid key macro and geopolitical-related events. Veteran trader Peter Brandt has highlighted a potential bearish retest of support. The Iran war and inflation concerns tick potential negative catalysts boxes.
Bitcoin is charging toward $73,000 amid a fresh decoupling from the stock market. The surge in BTC price comes despite fears around escalating oil prices. Ethereum, XRP, and Solana are also eyeing momentum as traditional assets falter.
QCP sees Bitcoin as a ‘stress barometer’ amid macro, geopolitical risks. BTC continues to eye $70,000 as support, with gains key to upside continuation. Breakdown risks BTC retesting $63k lows, where prior dip-buying emerged.
Bitcoin price trades around $67,500. The asset rose to near $70,000 but is facing key resistance. Analyst Rekt Capital warns that it’s “premature” to say the current bear market is over.
Bitcoin price dipped to $62,800 amid the latest market weakness. Analysts say $60,000 is key to the bulls’ short-term picture. BTC could dip to $50,000 amid a bear cross pattern. Bitcoin’s price slide gathered momentum on Tuesday, with fresh losses to under $63,000 as the cryptocurrency’s vulnerability to macroeconomic pressures and global uncertainties continued.
Bitcoin price plunged to $60,000, its biggest single-day fall since the FTX crash. Prices rose to above $66,000 as analysts forecast a potential dead cat bounce. Market sentiment remains in extreme fear.
Key takeaways BTC is down less than 1% as the market remains choppy. The leading cryptocurrency could retest the $87k support level before rallying higher. BTC’s price action remains choppy The cryptocurrency market continues to underperform as BTC and the other leading coins are in the red.