Market Update By Crypto_with_Faizan
The BTCUSDT chart now sees $52,000 as support and $60,000 as resistance. The RSI is around 40, indicating a slightly oversold condition, and the MACD is signaling a bullish crossover. Justice is being done in the skin, which sees strong market interest.
The recent decline in fundamental news has been attributed to the Bank of Japan's interest rate hike and weak US economic data, which is likely to lead to a massive sell-off and a loss of more than $1 billion. Still, institutions like BlackRock and Mukhlis are fairing their bitcoin ETF holdings, which shows long-term confidence. Analysts expect Bitcoin to mirror the price action of March 2020, and if the Federal Reserve cuts interest rates, Bitcoin could rebound.!
