Bitcoin's dangerous fall

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin's dangerous fall
FxPro | 1147 दिनों पहले

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

FxPro
प्रकार: NDD
विनियम: FCA (UK), SCB (The Bahamas)
read more
 Technical Outlook on GBP/USD, EUR/USD, GOLD

Technical Outlook on GBP/USD, EUR/USD, GOLD

Gold falls after hawkish Fed; US Core PCE could dictate the next move. Dollar dominance drags EUR/USD to three-month lows; Flash PMIs to gauge economic momentum. GBP/USD steadies as leadership transition boosts stability expectations.
XM Group | 23 मिनटों पहले
Brent – Iran Says It Will Close Hormuz, So Why Is Oil Still Near $78?

Brent – Iran Says It Will Close Hormuz, So Why Is Oil Still Near $78?

Iran threatens to close the Strait of Hormuz — the route for 20% of global oil — yet Brent barely moves, trading near $78. The market already priced out the war premium last week when peace hopes emerged. But if tankers truly stop, a fifth of the world's supply vanishes, and prices can surge within hours. Is the market underestimating Iran's threat?
Born2trade | 3घंटे 57 मिनट पहले
Hormuz Blockade Returns; Markets Await Key US PCE Inflation Data

Hormuz Blockade Returns; Markets Await Key US PCE Inflation Data

🚨 Iran reinstates Hormuz blockade after Switzerland talks collapse — WTI jumps 1% to $78, DXY hits 3-month high at 101.11. 9 of 19 Fed officials now project a rate hike this year, September on the table. Gold stabilizes on safe-haven flows. PCE inflation data the key catalyst this week.
CPT Markets | 5घंटे 29 मिनट पहले
S&P 500: the higher it climbs, the greater the fear

S&P 500: the higher it climbs, the greater the fear

Corporate earnings are rising, the economy is on a solid footing, and interest in AI shows no sign of waning. What else is needed to convince investors of a bright future for the S&P 500?
FxPro | 5घंटे 39 मिनट पहले
The dollar outperforms its rivals

The dollar outperforms its rivals

The US dollar opened the week with a gap up against the backdrop of escalating geopolitical tensions in the Middle East, expectations of accelerating inflation in the US and weakness in rival currencies.
FxPro | 5घंटे 40 मिनट पहले
Dollar strength persists as attention shifts to UK politics

Dollar strength persists as attention shifts to UK politics

US, Iran agree on a 60-day roadmap; will the Strait of Hormuz reopening last? US dollar is well supported despite light Fedspeak; could euro/dollar’s bearish breakout persist? Dollar/yen climbs as investors question Japanese Finance Ministry’s intervention strategy; Light data calendar; all eyes on the pound as UK PM Starmer steps down
XM Group | 6घंटे 6 मिनट पहले