What’s Going On With Bitcoin?
BTC/USD -0.62% Add to/Remove from Watchlist Add to Watchlist Add Position
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close US500 -0.61% Add to/Remove from Watchlist Add to Watchlist Add Position
Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close DX -0.16% Add to/Remove from Watchlist Add to Watchlist Add Position
Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close
Today there is a lot of focus on the US data, especially the US ADP number, which is expected to print a solid reading, which would mean that the US dollar index may pick up more strength. Bitcoin also seems to be losing some correlation with the S&P 500 index, which has been positive more lately, but Bitcoin hasn’t, which is another matter of concern.
Last month, the equity markets recorded another decent month, whereas Bitcoin failed to score gains, mainly because there isn’t much momentum in this trade for now. But this doesn’t mean that Bitcoin will move massively lower as the price continues to trade above its 200-day SMA, but the battle is on with the 100-day SMA, which it seems to be losing now.
Bitcoin Daily Chart
