Bitcoin faces a soaring U.S. dollar with BTC price action focusing on $25,700.
“$BTC - unless we reclaim may low I still think lower,” popular trader TraderSZ told X subscribers on the day.BTC/USD annotated chart. Source: TraderSZ/X
Michaël van de Poppe, founder and CEO of trading firm Eight, flagged the 200-week exponential moving average at $25,670 as the key level to watch on weekly timeframes.BTC/USD 1-week chart with 200EMA. Source: TradingView Fellow trader and analyst Toni Ghinea was more categorical, eyeing $25,000 and lower next for Bitcoin, with altcoins also due to suffer.
“I said 25k will happen. I said that ALTS will make new lows. I'm now saying $BTC will nuke to 19-23k,” he“This move down is far from over. Ignore the ETF narrative. It's only used to manipulate the market. Soon it will be time to buy.” Ghinea referenced the ongoing battle to launch the United States’ first Bitcoin spot price exchange-traded fund, or ETF — a keyLooking beyond crypto markets, the U.S. dollar presented a compelling case for suppression across risk assets.
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