Price analysis 8/5: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
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Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
Bitcoin bulls have held the $65,000 level, but BTC and altcoin charts show it’s too early for traders to expect a short-term trend reversal.
Bitcoin turned down from $70,000, a sign that bears are fiercely defending the overhead resistance, but the price whipsaws are having limited impact on altcoins.
Bitcoin’s recovery from the $63,500 level is encouraging, but higher levels may face solid resistance from the bears.
Bitcoin bulls are trying to protect the $65,500 level, but if they fail, a drop to $62,000 is possible.
Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Strong inflows into spot Bitcoin ETFs suggest that the sentiment has turned positive, and traders are buying aggressively.
Bitcoin and altcoin traders set their sight on new all-time highs now that BTC price is back above $63,000.
