ETHUSD 1H: a clear bearish breakout and subsequent retest at the broken support-turned-resistance. Sellers press for follow-through; failure to reclaim the zone would validate renewed downside momentum.
In anticipation of the FOMC meeting, Bitcoin ETFs attracted $275 million in buyers, signaling increased market confidence. Analysts suggest this could “exhaust” bearish sentiment as investors react calmly to potential rate changes.
Bitcoin’s market outlook hangs in the balance as bulls and bears wage a fierce battle over a critical technical indicator. The 50-day moving average (50-DMA), a widely followed trend gauge, has become the battleground in this high-stakes clash. Bulls, convinced of Bitcoin’s upward trajectory, aim to push prices above the 50-DMA, while bears relentlessly defend against this pivotal level, seeking to maintain their downward momentum. The outcome of this technical duel will likely set the tone for Bitcoin’s short-term price action, leaving traders and investors anxiously awaiting the market’s verdict.
BTC failed to reach the $30K mark as bears aggressively sold and pushed the price back to $28.5K. Analysts suggest the benchmark cryptocurrency is rangebound and unable to exceed the key psychological level.