Market Wrap: Bitcoin at $50K as the Bulls Return

Posted on by American Coins & Gold

Market Wrap: Bitcoin at K as the Bulls Return
Bitcoin is trading around $50,000, which analysts consider a positive milestone after last month’s crypto sell-off. BTC is up about 22% over the past week and has decoupled from slumping global equities.Sentiment on bitcoin significantly improved over the past week, signaling a shift away from market panic, according to the Fear and Greed Index. Technical indicators are also showing improving short-term momentum, which is consistent with rising bullish sentiment.“We expect short-term overbought conditions to be weathered long enough for a test of minor resistance near $52.9K, a breakout above which would target the all-time high,” Katie Stockton, managing director of…