El precio de Bitcoin se detiene cuando los comerciantes advierten que BTC podría caer por debajo de los $ 55K

Bitcoin (BTC) barely recovered its losses on April 9 as fresh doubts emerged about the bull run continuing this month.

Gráfico de velas de 1 hora BTC / USD (Bitstamp). Fuente: Tradingview

$56,760 “not a convincing bottom

After sliding 5% el miércoles, BTC/USD saw only a modest rebound to circle $57,000 en el momento de escribir, Cointelegraph Markets Pro and TradingView showed.

Following multiple failed attempts to crack resistance close to all-time highs, analysts were becoming wary of a further dip and a temporary halt to further price gains.

Filbfilb, cofundador de la suite comercial Decentrader, described this week’s current floor of $56,760 as “not a convincing bottom.”

BTC funding rates. Fuente: Bybt.com

As reported on Wednesday, funding rates among trading platforms call for a shakeout of leveraged long positions from those overly bullish on a continuation. For Filbfilb, those rates remain “way too high,” he told subscribers of his Telegram trading channel.

Popular Twitter trader Cantering Clark meanwhile pointed to Bitcoin’s 20-week moving average (MA) — a classic “line in the sand” for price performance — still lingering at around $40,000.

“More fuel for why I think April-May puts a lid on $BTC until later in the year,” he commented on a comparative chart.

“Simple as it is, esta 20 week MA with a 2 standard deviation band above. At some point, these meet. Either it comes to us or we come to it. Hard to imagine this takes plus much higher up.”

Macro turns favorable for Bitcoin bulls

Despite institutional interest continuing in recent weeks, fuelled by major new adoption announcements from banks, signs of a slowdown were also beginning to show on the day.

The Purpose Bitcoin ETF saw a slight reduction in its BTC holdings after consistent growth, with its assets under management dipping in tandem from highs of $976 millones a $944 millón.

Fellow institutional portal Grayscale’s Bitcoin Trust (GBTC) maintained its negative premium, mientras tanto, a phenomenon which has put pay to further Bitcoin accumulation since February.

GBTC price, holdings and premium chart. Fuente: Bybt

But not everyone was wholly gloomy. For trader trader Crypto Ed, the ultimate market trajectory was clear.

“Not in a rush to get in a position,” he told Twitter followers on Thursday.

“54k first or up from here, both mean we’re starting a strong 3rd leg and plenty of upside waiting for us. BTC will break 60k and finally go much higher.”

NOS. índice de moneda dólar (DXY) 1-gráfico de velas de hora. Fuente: Tradingview

Beyond crypto, a buoyant outlook for United States stock markets coupled with a weakening dollar could further serve Bitcoin’s purpose in the short term.

“With excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic…NOS. economy will likely boom,” noted JPMorgan CEO, Jamie Dimon in his annual shareholder newsletter earlier this week.

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Fuente: Cointelegraph

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