The crypto market showed signs of resilience on Thursday, with bitcoin adding 1.1% since midnight UTC after dipping below $60,000 on Wednesday to its lowest since October 2024.
The largest cryptocurrency remains at a critical level in terms of broader market structure. A potential break lower in price could trigger a slide to around $52,000. For now, it appears to have weathered the storm.
Ether (ETH) rose 1.5% on Thursday and was recently trading at $1,644 after briefly tumbling to $1,550 at around 17:00 UTC on Wednesday.
Thursday’s gains can possibly be linked to a recovery in U.S. equities. S&P 500 and Nasdaq 100 futures are 0.7% and 2.2% higher, respectively.
Derivatives positioning
- BTC revisited lows near $59,000 on…
