“Circle IS Up 13% on News That Amazon and Walmart Are Moving Into Stablecoins.”, – WRITE: www.coindesk.com
After slump to the $ 102.600 Mark, Bitcoin
Rebounded to around $ 106,000 Before Fading Lower in The US Afternoon Hours with Reports About A Fresh Wave of Aircrakes Targeting IRAN. The Top Cryptocurrency Was Down 1.6% in the Last 24 Hours, Changing Hands at $ 105.200 and Still Less than 6% of Shy of Its All-Time High Price.
Meanwhile, The Coindesk 20 – An Index of the Top 20 Cryptocurrencies by Market Capitalization, Excluding Memecoins, Stablecoins and Exchool Coins – Has Lost 4.4% in the Same. TKENS SUCH AS Ether
Avalanche
and Toncoin
Were The Hardest Hit, Slumping Between 6% and 8%.
Crypto Stocks, However, Aren’T doing too hot. MOST EQUITIES ARE IN THE RED, ESPECILY BITCOIN MINERS MARA HOLDINGS (MARA) and RIOT PLATFORMS (RIOT), Down 5% and 4% Respectively. A notable exception is Stablecoin Issuer Circle (Circle), WHICH IS STILL BENEFITING FROM The WindFall of It Recent IPO; The Stock Is Up 13% Today, with News of Retail Giants Amazon and Walmart Reportedly Exploring Stablecoins Adding to The Momentum.
Traditional Markets Don’t Seem Overwhelmingly Concerned by the War. While Gold Is Up 1.3%, Potentilly Gearing Up for New All-Time Highs, The S&P 500 and Nasdaq are Only Down 0.4% Each.
What’s Next for Bitcoin?”Nice Bounnce Thus Far and Lack of Follow-Through Lower,” Well-Followed Crypto Trader Skew Said in a Friday X Post. Market Participants Will Likely Remain Cautiooos Through the Weekend with Btc tightly correlated with Traditional Markets Amid Heighenedened Geopolitical Risks, Skew Adeded.
On the Longer TimeFrame, Some Analysts See Risks of a Deeper Pullback.
10x Research Founder Markus Thielen Noted that Btc’s Drop Below $ 106,000 Translates to a Failed Breakout, and Traders Shoulda For More favorable setups before rushing to buy.
(10x Research)
He Highlighted the $ 100,000- $ 101,000 Zone as Key Support, Warning that a Break Below Could Mark A Return to the Broader Consolidation Phase Similar to Last Summer.
John Glover, Chief Investment Officer at Bitcoin Lender Ledn, Argued That Bitcoin Entered A Corrective Phase From ITS Record Highs that Could Cold See The Largest Digital.
Bitcoin’s Potential Corrective Phase in a Larger Uptrend, Per John Glover (Ledn/TradingView)
HE SAID The $ 90,000 Level Could Offer A Favorable Entry for Opportunistic Investors Before BTC Resumes ITS UPTREND.
“Once this pattern has played out, The Next Move Higher to the $ 130,000 Area is Expectioned to begin,” He Said.
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