Bitcoin Price Today: Short Term Whales Could Pause BTC Bounce

Quick Summary:

Before this uptick, BTC succumbed to heavy selling pressure caused by uncertainty over high interest rates, jitters about a recession in the US, and rising geopolitical tensions in Europe and West Asia.

Bitcoin price surged 15% on Thursday, marking the largest single-day move since February.

In addition to the 20-day Exponential Moving Average (EMA) limiting upward movement at $61,490, a death cross in the same daily range suggests that the chances of the rally making it to $70,000 are shrinking.

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Article Details

Author / Journalist: John Isige

Category: Crypto

Markets: India

Topics: Bitcoin price Price Analysis Bitcoin Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 16:41:25 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 22000378

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Main Topics: Crypto

Official Website: coingape.com

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