BTC price fails to hold above $30,000 after a brief resurgence, causing concern among Bitcoin traders.
– BTC price sinks through $30,000 after rejection at the 21-day SMA.
– Analysts predict a return to range lows and another sweep of the low for Bitcoin.
– Volatility could increase due to rising open interest.
– On-chain monitoring suggests a temporary peak may be in for BTC/USD.
– Lack of bid liquidity below $30,000 mark according to Binance order book data.
– Strong tech earnings and a slowdown in US jobless claims boost the US dollar.
– The US Dollar Index (DXY) gains ground to near 101.
– The relationship between BTC price performance and DXY strength is changing.
– This article does not provide investment advice or recommendations.
Summary:
– BTC failed to hold above $30,000 and may return to range lows.
– Analysts warn of another sweep of the low for Bitcoin.
– Volatility could increase due to rising open interest.
– On-chain monitoring suggests a temporary peak for BTC/USD.
– Lack of bid liquidity below $30,000 mark according to Binance order book data.
– Strong tech earnings and a slowdown in US jobless claims boost the US dollar.
– The US Dollar Index (DXY) gains ground to near 101.
– The relationship between BTC price performance and DXY strength is changing.
