-Bitcoin is in a short-term correction phase with bearish momentum according to MACD, but still maintains a large market capitalization.
-The Bitcoin network operates robustly with a high number of daily users and stable transaction fees, indicating the underlying health of the network.
-Bitcoin increasingly shows correlation with the stock market and an inverse correlation with safe-haven assets, reinforcing its role as a risk asset.
-Market sentiment is a mix of caution and optimism, with diverse price forecasts and high volatility potential.
Next Steps:
Monitor key technical support and resistance levels, especially the lower ($91641) and middle ($92503) Bollinger bands.
Watch macroeconomic indicators such as S&P 500, Nasdaq, DXY, and VIX to assess the impact on Bitcoin prices.
Stay updated on news related to the Federal Reserve's monetary policy and large institutions' Bitcoin purchasing announcements.
$BTC
