Bitcoin's dangerous fall
Market picture
Bitcoin fell all day yesterday, losing around 6% to $27.6K, raising the question of whether we are seeing the start of a prolonged decline.
Bitcoin closed below its 50-day moving average on Monday. The price stays below that curve and is stuck at $28.0K after rising 1.3% to today. If it can't quickly surpass it again, Bitcoin's fall below $27K will pave the way for a move to $22K, where the 200-day passes, which became a turning point in March.
Twitter analyst Bluntz, who predicted a bear market bottom for BTC in 2018, expects Bitcoin to fall to $25K. In his view, the first cryptocurrency is unlikely to break $30,000 soon. BTC has completed a 5-wave and is now in a corrective A-B-C formation.
News background
Cryptocurrencies will outperform other asset classes amid the continued devaluation of fiat currencies and the ongoing banking crisis, Real Vision CEO Raul Pal said following the bankruptcy of First Republic Bank (FRB).
Peter Brandt, tech analyst and head of Factor LLC, believes Bitcoin will soon overtake all other cryptocurrencies and "bury all the imposters". He pointed to the chart of the BTC dominance index, which he believes is poised for a breakout after two years of consolidation.
According to Santiment's research, crypto asset prices in April were "very broadly dispersed" and barely correlated with each other.
By the FxPro Analyst Team
Dollar strength persists as attention shifts to UK politics
EBC Markets Briefing | Sterling down on report that Starmer could quit soon
Technical Analysis – EURUSD bearish breakdown tests key support near 1.1450
Eyes on US-Iran Talks as Market Weighs Possible Resignation of UK PM
Renewed US-Iran Tensions Lift Oil and Dollar as Safe-Haven Demand Returns | 22nd June, 2026
Has Crypto Lost the Capital… or Has The S&P500 Stolen the Spotlight?
Weekly Recap and Forecast: Oil nears pre-war levels as the US and Iran sign peace agreement. Fed keeps interest rates unchanged.
