Bitcoin Falls Below the 50-Week Moving Average After Two Months
The cryptocurrency traded near $74,300, down 2% on the day, with a weekly close at $74,968, just below the 50-week moving average of around $75,500. A weekend sell-off, nearly $1 billion in liquidations, and $1.28 billion in spot ETF outflows added pressure, as traders debated whether this was a bear trap or a signal of a deeper decline into the low $60,000s. Bitcoin has stabilized near its 200-day moving average, a level that supported recoveries in previous bull markets, such as in 2012 and 2019.
$BTC
The cryptocurrency traded near $74,300, down 2% on the day, with a weekly close at $74,968, just below the 50-week moving average of around $75,500. A weekend sell-off, nearly $1 billion in liquidations, and $1.28 billion in spot ETF outflows added pressure, as traders debated whether this was a bear trap or a signal of a deeper decline into the low $60,000s. Bitcoin has stabilized near its 200-day moving average, a level that supported recoveries in previous bull markets, such as in 2012 and 2019.
$BTC