Bitcoin (BTC) has risen to $ 90,000 for the first time since March 7, adding more than 5 % in the past five days as tracks of the largest encrypted currency and Traditional stocks Spreading.
In comparison, the S&P 500 was traded above 5700 points on March 7, and it has since decreased to less than 5200.
Despite the last bounce, Bitcoin is still less than 5 % yet. However, he was widely recovered from the decrease of April 8, when it decreased by approximately 20 % throughout the year and more than 30 % less than its record of about $ 109,000 in January. This was a sharp correction of this session and outperformed August 2024, when it slipped to $ 49,000.
From the perspective of the market structure, the average permanent financing rate via stock exchanges is currently negative.
Permanent financing rates reflect the cost of jobs for long or short positions in futures markets. When the rate is negative, this means that the open sellers pushing a long bearer to maintain their positions, a preparation that can accelerate price movements higher because short pants are forced to cover their positions in what is known as short pressure.
In addition to the bullish momentum, on Monday, it was the largest flow for one day to the investment funds circulating in Bitcoin in the United States since January 30, with a total of more than $ 380 million. With the rise of NASDAQ more than 1 % over what some “Turnaround Tuesday”, Bitcoin may gain more bullish direction, though this though this Main technical resistance levels She is still waiting for us.
Slip: This article, or parts of it, was created with the help of artificial intelligence tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, see the fully intelligent coinsk policy.
Update (April 22, 13:55 UTC): The history of price movement in the third paragraph adds, the market structure begins in fourth place.
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