The bull market’s last moving average was breached today—and then reclaimed.
$BTC hit a low of $67,568 today, dropping below the 200-week moving average at around $68,000. This is the longest moving average used to gauge the long-term trend.
It’s now at $68,833, down 4.24% over 24 hours and just about $800 above the moving average. It has fallen steadily this week from last week’s close of $74,851, down about 8.0% over 7 days.
Bulls are taking a beating: about $1.6 billion in liquidations across the market over 24 hours. ETFs are still seeing outflows, too: another $47.7 million flowed out on Thursday, the 6th consecutive day, bringing the total over 6 days to about $1.44 billion.
$ETH is at $1,938, down 3.85%, after hitting a low of $1,895.95; BNB fell 3.08% to $634.59. U.S. stocks also closed lower on Friday: the S&P 500 fell 0.35% to 7,592, the Nasdaq fell 0.39% to 25,366, and the 10-year Treasury yield was 5.10%.
The Fear and Greed Index is at 20 today, signaling extreme fear, down from 28 yesterday.
The next level to watch: can this weekly candle close above $68,000? If not, the 200-week moving average will have officially been lost. This is not investment advice.
$BTC hit a low of $67,568 today, dropping below the 200-week moving average at around $68,000. This is the longest moving average used to gauge the long-term trend.
It’s now at $68,833, down 4.24% over 24 hours and just about $800 above the moving average. It has fallen steadily this week from last week’s close of $74,851, down about 8.0% over 7 days.
Bulls are taking a beating: about $1.6 billion in liquidations across the market over 24 hours. ETFs are still seeing outflows, too: another $47.7 million flowed out on Thursday, the 6th consecutive day, bringing the total over 6 days to about $1.44 billion.
$ETH is at $1,938, down 3.85%, after hitting a low of $1,895.95; BNB fell 3.08% to $634.59. U.S. stocks also closed lower on Friday: the S&P 500 fell 0.35% to 7,592, the Nasdaq fell 0.39% to 25,366, and the 10-year Treasury yield was 5.10%.
The Fear and Greed Index is at 20 today, signaling extreme fear, down from 28 yesterday.
The next level to watch: can this weekly candle close above $68,000? If not, the 200-week moving average will have officially been lost. This is not investment advice.
