Bitcoin Price Analysis
Bitcoin underwent some volatile days over the past week, facing its first geopolitical severe conflict throughout its relatively short lifetime.
The macro fear has yet to cool down, but judging by the last few days, bitcoin surprised the investor with a huge bounce back from 34K. This buying pressure was from FTX and Bitfinex exchanges and pushed the price to 40K, in correlation with Wall Street’s Thursday reversal (Nasdaq saw a 7% intraday surge).
The uncertainty and fear in the market on one side and the positive momentum in the price action on the other side are constructing a trading range between 34K and 40K.
The macro fear has yet to cool down, but judging by the last few days, bitcoin surprised the investor with a huge bounce back from 34K. This buying pressure was from FTX and Bitfinex exchanges and pushed the price to 40K, in correlation with Wall Street’s Thursday reversal (Nasdaq saw a 7% intraday surge).
The uncertainty and fear in the market on one side and the positive momentum in the price action on the other side are constructing a trading range between 34K and 40K.
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