Monday, May 29

Analysts Say Bitcoin’s Bounce Off $36,000 Means ‘It’s Time to Start Thinking About a Bottom’ By Cointelegraph

©Reuters. Analysts say Bitcoin’s bounce off $36,000 means “time to start thinking about a bottom”

The bears remain in full control of the cryptocurrency market on Jan. 24, and to the surprise of many, they managed to push the price of () to a multi-month low of $32,967 during early trading hours. This move lower filled a CME futures gap left over from July 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the $36,000 level was breached in early trading hours on Monday, triggering a sell-off that dipped below $33,000 before buyers arrived to bid the price. above USD 35,500.

BTC/USDT 1-day chart. Source: TradingView Here’s a look at what various analysts are saying about the macro factors at play in global financial markets and what to watch for in the coming months.

Read the full article on Cointelegraph

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