U.S. Stocks Rally While Digital Assets Decline
- Strong Equity Opening: U.S. stocks opened sharply higher on Wednesday, with the S&P 500 up 49.73 points (0.72%), the Nasdaq gaining 205.39 points (0.89%), and the Dow Jones adding 252.14 points (0.5%), indicating broad strength in large caps, particularly in tech and growth sectors driving macro risk.
- Crypto Market Volatility: Bitcoin (BTC) trades around $67,253, down about 2.5% over the last 24 hours, while Ethereum (ETH) hovers near $1,939 with a 3.6% decline, and Solana (SOL) is at approximately $80.80, down over 4%, reflecting the weakness in the crypto market amid strong equity performance.
- Shift to Fear Sentiment: Despite U.S. indices reaching new highs, market sentiment has shifted back into fear territory, with a popular fear and greed index indicating “extreme fear,” suggesting that investors are more inclined to de-risk, particularly in crypto assets, during periods of heightened volatility.
- Crypto and Equity Correlation: As long as the S&P 500 and Nasdaq maintain their upward trajectory, systematic and cross-asset funds are likely to continue treating large-cap cryptocurrencies as high-risk satellites to their equity portfolios rather than as a separate asset class, reinforcing the close ties between crypto assets and the macroeconomic engine driving Wall Street higher.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 40818.203 | 50409.102 | 60005.013 | 69595.912 | 79191.823 | 88782.722 | 98378.633 |
| Fibonacci | 50409.102 | 57738.463 | 62266.55 | 69595.912 | 76925.273 | 81453.36 | 88782.722 |
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