Bitcoin (BTC) is off to a better start than most this week as bulls avoid serious losses into the weekly close

Bitcoin (BTC) is off to a better start than most this week as bulls avoid serious losses into the weekly close.

Still heavily tied to declining stock markets, the largest cryptocurrency is nonetheless defending $30,000 on May 23 and eyeing the top of its post-Terra (LUNA) trading range.

While there are no signs of an impending miracle price recovery, some are hoping that upside will feature before any form of reversion to a downtrend.

Macro conditions remain tenuous, and the week of the World Economic Forum’s (WEF) Annual Meeting is due to add fuel to the fire surrounding the tolerance of Bitcoin.

Add to that the largest downward difficulty adjustment since last July and it becomes clearer that Bitcoin is battling for strength on multiple fronts.

What could happen in the coming days? Cointelegraph presents several factors to keep in mind when it comes to BTC price action.

Check Also

A key derivatives metric used by margin traders has hit a record-high, but there’s plenty of risk and a catch to consider

To put things in perspective, over the previous four instances where BTC margin longs (bulls) …

دیدگاهتان را بنویسید

نشانی ایمیل شما منتشر نخواهد شد.