|
|
The price of Bitcoin has been trading above $69,500 recently. Additionally, starting from April 8th, Bitcoin ETN products will be listed and traded on the London Stock Exchange. At this stage, investors should pay attention to which developments. Let's look at the details.
Looking at the developments this month, it's expected that major central banks will maintain their current interest rate levels, reflecting the stance of the Federal Reserve. The release of strong economic data in the United States has reduced expectations of interest rate cuts, leading to a sustained high-interest-rate environment. As a result, the U.S. stock market, seen as a leading indicator of risk assets, has experienced significant volatility.
Bitcoin's journey through the volatility of the cryptocurrency market continues.
In the cryptocurrency market, the $70,000 price level of Bitcoin (BTC) has recently become a battleground. However, other cryptocurrencies also face downward pressure similar to Bitcoin.
Bitcoin's noteworthy levels
Analysts at CoinGlass anticipate that if the price of Bitcoin exceeds the $72,000 level, Bitcoin may experience short squeezing. This situation may prompt whales to protect or increase their holdings, potentially driving up prices.
The current price trend of Bitcoin is limited to a symmetrical triangle structure, reflecting market uncertainty. Breaking out of the triangle may indicate that prices will rise to around $73,777 or even reach $80,000. Conversely, breaking this pattern may lead to a decline to the $59,000 level. |
|
Post time 16-4-2024 17:07:14
