First Mover Americas: BTC Muted After Crypto Goes Unmentioned in Musk-Trump Interview

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk 20 Index: 1,900 −1.6% Bitcoin : $58,871 −1.5% Ether : $2,644 −1.0% S&P 500: 5,344.39 +0.0% Gold: $2,463 +0.0% Nikkei 225: 36,232.51 +3.45%BTC traded at around $58,750 during the European morning, down just over 1% from its price of 24 hours ago. The broader crypto market, as measured by the CoinDesk 20 Index , dropped by a similar amount.

"Bitcoin is likely to fall by $5K rather than rise by the same amount," Alex Kuptsikevich of FxPro said in an email. Kuptsikevich's bearish take stemmed from bitcoin's failure to keep gains above $60,000 in the wake of the death cross, a bearish crossover of the 50- and 200-day simple moving averages."Bitcoin does not break above $60K and faces selling after it tried to break above the 50- and 200-day MAs late last week, showing seller dominance," Kuptsikevich noted.

Its a sign of dwindling activity on the Ethereum mainnet and weakens the bullish case for the blockchain's native token ether.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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