Price analysis 4/25: BTC, ETH, BNB, XRP, SOL, LUNA, ADA, AVAX, DOGE, DOT
2022.04.26 01:46
Price analysis 4/25: BTC, ETH, BNB, XRP, SOL, LUNA, ADA, AVAX, DOGE, DOT
Bitcoin (BTC) continues to trade below $40,000 as bears try to flip the level into resistance. The soaring U.S. dollar index (DXY), which is usually inversely related to Bitcoin, favors the sellers. However, it is not all gloom and doom because the Bitcoin bulls seem to be taking clues from the Nasdaq (NDX), which has been hovering close to positive territory.
Although risky assets have been on the receiving end for the past few days, Bitcoin hodlers are focusing on the long-term bullish projections and ignoring the short-term weakness. Glassnode data shows that Bitcoin’s supply that has not moved for at least a year has hit above “64% for the first time ever.”
