This Is Just a Mild Crypto Winter
Bitcoin continues to attempt to consolidate above $89K. This resistance level, approaching a round number, is reinforced by the 50-day moving average. BTC’s position relative to this curve indicates a bearish market.
Due to a relatively favourable external environment, it has managed to successfully defend support near $85K. Still, fluctuations about a third below the highs of the last two months are cause for pessimism. Neither institutional demand nor the president’s pro-cryptocurrency administration has helped to overcome the accumulated fatigue after the rally of the previous three years.
Crypto News
In these times of uncertainty and stress in the markets,…
