Bitcoin Stalls Under $75K as U.S. Stocks Set New Records
Bitcoin’s upward trajectory has been halted once more amid an uptick in volatility in traditional markets despite geopolitical risks in the Middle East.
Performance of Markets
* Bitcoin: $74,649.26, 1.45% higher in 24 hours, yet failed to break above $75,000
* Nasdaq: +1.6%, 11th consecutive day of gains, record close above 24,000
S&P 500: +0.8%, record close above 7,000
* Cryptocurrency-related stocks: Coinbase Global Inc. +6.2%, Robinhood Markets Inc. +10%, Strategic Stock Solutions +4.4%
Key Levels to Consider
* Resistance: $75,000 continues to resist BTC gains for the last two months
* Support: $72,000 must stay intact to maintain breakout expectations
Risk: Falling below $72,000 would lead to a return to consolidation mode
Analyst Viewpoint
According to Jasper de Maere of Wintermute, “BTC rejected from the upper end of this two-month range.” The promising flows have been called into question already. Bitcoin is only now making up for lost time after falling
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