Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
For less than $8 a month, unlock the AI-powered stock picks that are beating the market by 18.6% this year.has shown resilience over the past week, despite its fear and greed index plunging to 'extreme fear' territory for the first time since January 2023. Despite continued selling pressure in the crypto market, positive developments have helped prevent further declines in Bitcoin's price. Currently, buyers and sellers are locked in a tight struggle as Bitcoin searches for direction.
Bitcoin, sensitive to Fed policy, surged at the beginning of the year when a rate cut was anticipated but then declined as inflation rose and the Fed adjusted its outlook. Currently, expectations of one or two rate cuts this year are seen as supportive for Bitcoin, albeit less dramatically than earlier in the year.The cryptocurrency fear and risk appetite index has fluctuated, first rising in June due to miner sales and later falling due to pressures from the German government and Mt. Gox.
Over the last seven days, Bitcoin has struggled to close above $58,200. It dipped to a low of $53,000 but swiftly rebounded, managing daily closes around $56,000 at its lowest. This pattern suggests Bitcoin has used $57,300 as a pivot point, aligning with the Fib 0.5 level from the recent bullish trend. Should Bitcoin close below $57,300 this week, bearish momentum may push the price down to the next support zone at $53,600.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Sheds Weak Hands in June as Bulls Begin to Step in at Key Support ZoneMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Ethereum: Long-Awaited ETF Launch May Not Be the Catalyst That Ends Sideways TrendMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin: Bears in the Driver's Seat as Crypto Breaches Several Key Support LevelsMarket Analysis by Investing.com (Günay Caymaz) covering: Bitcoin. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin: Support Zone Near 3-Month MA Becomes Critical After Failed BreakoutMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
3 Meme Coins Eyeing High-Volume Breakouts After Key Support Holds FirmMarket Analysis by Investing.com (Günay Caymaz) covering: Dogecoin, SHIB/USD, PEPE/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Ethereum: Bounce May Be Short-Lived - Watch Out for Renewed Selling PressureMarket Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »