Bitcoin
The main focus here is on the relationship between Bitcoin price and the stock market. Bitcoin has a strong positive correlation with the risk-on factor, rising as the stock market gains more. The big question is whether it will continue to trade higher as cracks begin to appear in the risk-on rally. Traders may withhold support for riskier assets this week, with comments from Fed officials suggesting the Fed does not appear to be in a hurry to end its hyperhawkish monetary policy. increase.
In terms of price levels, traders pay attention to two price levels. First at 25K resistance, then he at 30K resistance. Second, it’s support at the 20,000 price level. Another trend can form only when the price rises above that price range.
