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Bitcoin slipped below $75k at the start of the week, bouncing briefly above $80k on Monday and Tuesday. The technical picture for Bitcoin remains tragic. Earlier this month, a death cross formed when the 50-day average dipped below the 200-day.
Last year, a similar signal had the opposite effect, recording a low a couple of days before the signal. But in the last couple of months, the downward trending 50-day has been acting as an effective resistance. In case of a market reversal, a consolidation above the 86k level, where it is now, would be an important signal of a break in the downtrend.
Crypto News
According to CoinShares, global investments in crypto funds fell by $240 million last week after two weeks of inflows. Bitcoin investments decreased by $207 million, Ethereum by $38 million, Sui by $5 million, and Solana by $2 million, while XRP investments increased by $4.5 million and Toncoin by $1 million.
Coinshares suggests that the outflow of funds from cryptocurrencies is likely a response to recent news of US trade duties that pose a threat to economic growth.
Binance Research noted that macroeconomic factors like trade policy and rate expectations are increasingly driving cryptocurrency market behaviour, temporarily overshadowing underlying demand dynamics. Bitcoin’s correlation with traditional assets tends to rise during times of acute stress but weakens as conditions normalise.
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