Bitcoin falling to the $50,000 level is being seen as the “last significant accumulation zone” before any sustained recovery, says LVRG Research director Nick Ruck.
Bitcoin and altcoin charts highlight growing strength across the industry. Will geopolitics and US economic health concerns stand in the way of the rally?
Bitcoin’s attempts to hold rallies above the $70,000 to $75,000 range continue as ETF demand limps along, US Treasury yields rise and traders take profit as BTC price hits overhead resistance.
Bitcoin rallied to $72,500 as US stocks reacted to US efforts to blockade the Strait of Hormuz. Despite the rebound, BTC traders warned that a price correction remains a risk.