Bitcoin Hovers Below $29,000 Amid US Regional Bank Stock Crash and Latest Fed Rate Hike
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Bitcoin (BTC) is hovering below the $29,000 level as regional bank stocks in the US crash and the Federal Reserve announces new rate hikes. New data from the KBW Nasdaq Bank Index, which is designed to keep track of the performance of leading banks in the US, reveals that bank stocks have sharply declined since February and have dropped to a point they haven’t been in since late 2020. According to Charlie Bilello, the chief market strategist for financial services company Creative Planning, the issues aren’t going away as many regional bank stocks have plummeted this week. “The regional bank
Bitcoin bears re-entered the marketplace on Saturday, as prices moved closer to a multi-week low to start the weekend. BTC once again fell below $29,000, whilst ETH continues to move lower, and now... [[ This is a content summary only. Visit my website for full links, other content, and more!…
Bitcoin price moving lower below the $29,500 zone. BTC remains at risk of more downsides below the $29,000 support zone. Bitcoin is still trading well below the $29,650 resistance zone. The price is trading below $29,300 and the 100 hourly Simple moving average. There is a connecting bearish trend line…
On Thursday, three critical bearish incidents sent Bitcoin (BTC) price to $25,200. On-chain data explores why Bitcoin price tumbled and likely price action to anticipate in the coming weeks. On Thursday, Bitcoin dropped briefly tumbled below $25,200, its lowest since early June. A bearish $373 million trade by Elon Musk’s…