Bitcoin’s Price Stagnancy Prompts Pivot to Altcoins but Interest in Speculative Assets Remains Limited
New analysis indicates that traders are unfazed by Bitcoin’s plunge below the $30k psychological support level.
Bitcoin
New analysis indicates that traders are unfazed by Bitcoin’s plunge below the $30k psychological support level.
As BTC struggles to cross over the $30,000 price mark, some whales have intensified accumulation, while others have reduced their risk exposure.
Bitcoin price started a fresh decline below the $30,000 pivot level against the US Dollar. The price is now trading below $29,500 and the 55 simple moving average (4 hours).
Bitcoin price is attempting a recovery wave above the $29,200 level. BTC must clear the $29,600 resistance to start a decent recovery wave.
The world’s largest asset manager BlackRock appears to be going all-in on Bitcoin. In addition to its recently filed spot ETF application, the firm has also recommended an optimal portfolio…
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