2020-2-9 12:14 |
U.S. investment data firm Weiss Ratings upgraded Bitcoin’s rating to A-, citing upcoming halving and strong price performance
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Bitcoin price trades around $67,500. The asset rose to near $70,000 but is facing key resistance. Analyst Rekt Capital warns that it’s “premature” to say the current bear market is over.
Bitcoin price dipped to $62,800 amid the latest market weakness. Analysts say $60,000 is key to the bulls’ short-term picture. BTC could dip to $50,000 amid a bear cross pattern. Bitcoin’s price slide gathered momentum on Tuesday, with fresh losses to under $63,000 as the cryptocurrency’s vulnerability to macroeconomic pressures and global uncertainties continued.
Bitcoin price plunged to $60,000, its biggest single-day fall since the FTX crash. Prices rose to above $66,000 as analysts forecast a potential dead cat bounce. Market sentiment remains in extreme fear.
Key takeaways BTC is down less than 1% as the market remains choppy. The leading cryptocurrency could retest the $87k support level before rallying higher. BTC’s price action remains choppy The cryptocurrency market continues to underperform as BTC and the other leading coins are in the red.
Key takeaways Bitcoin is up 1% in the last 24 hours but continues to trade below $90k. The performance comes despite Trump’s Davos speech on Wednesday, which ended the imposition of new tariffs on European nations against the US purchase of Greenland.
Bitcoin’s bullish price outlook remains, but a retest of support near $90,000 poses a threat to this. The latest price action comes amid a whale move to transfer $84 million in BTC that had been dormant for 12 years.
Crypto Fear and Greed Index hit “greed” for the first time since the $19B October liquidation event. Bitcoin rallied to a two-month high above $97K, helping lift overall crypto market sentiment.