Bitcoin Drops Below $80K Triggering $2.5B Liquidations
- Bitcoin Price Movement: Bitcoin fell below $80,000 following Kevin Warsh's appointment as Fed chair, triggering approximately $2.5 billion in liquidations across leveraged positions, highlighting the market's sensitivity to risk and liquidity pressures.
- Market Reaction Analysis: QCP Asia noted that Bitcoin stabilized temporarily at a mid-cycle support area after breaking key technical levels, although momentum indicators still point to downside risks, indicating that market sentiment remains fragile.
- Investor Sentiment Shift: As markets reassess the probable policy direction under Warsh's leadership, traditional safe-haven assets like gold and silver also pulled back, reflecting investor concerns over potential tightening of monetary policy.
- Cycle Bottom Expectations: Analyst PlanC suggests that Bitcoin's recent drop may represent a cycle floor, akin to past drawdowns preceding major recoveries, indicating that the market could be undergoing a final shakeout before entering a bull cycle.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00387 | 0.0169 | 0.0279 | 0.0409 | 0.0519 | 0.0649 | 0.0759 |
| Fibonacci | 0.0169 | 0.0261 | 0.0317 | 0.0409 | 0.0501 | 0.0557 | 0.0649 |
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