ביטקאָין רעכט צו טרייסלען-אַרויף קעגן גאָלד, סטאַקס ווי בטק פּרייַז דיפּס אונטער $ 22.5K

ביטקאָין (בטק) saw weakness at the Jan. 25 Wall Street open as United States equities fell in step. 

BTC price faces stiff resistance

דאַטן פון קאָינטעלעגראַף מאַרקעץ פּראָ און TradingView showed BTC/USD heading below $22,500 after failing to crack resistance near five-month highs.

U.S. stocks saw a weak start to the session, with the S&P 500 and Nasdaq Composite Index down 1.1% and 1.6%, respectively, at the time of writing.

Bitcoin bulls had themselves faced trouble, attempting to push into an area of liquidity above $23,400, this so far remaining unchallenged and home to a significant number of would-be short liquidations.

Traders remained on the fence, hoping that a clearer trading signal would come after several days of essentially sideways price action.

“This is what I am looking for on Bitcoin with a corrective wave now, followed by another leg up to my $25,000 overall,” Crypto Tony קאַמענטאַד צוזאמען אַ יקספּלאַנאַטאָרי טשאַרט.

“Invalidation is if we began to breakdown from here.”

Cointelegraph contributor Michaël van de Poppe was also opting to wait and see on the day.

“Patiently waiting for Bitcoin to drop beneath $22.3K or breaking and reclaim $23.1K. In between I don’t see much of an interesting set-up,” he דערציילט טוויטטער אנהענגערס.

Some optimistic takes remained, including that from Crypto Ed, who ייד a potential higher low for BTC/USD setting the stage for new highs.

Fellow trader Kaleo even סאַגדזשעסטיד that $30,000 would be Bitcoin’s next target.

Bitcoin correlation to gold surge

A topic of interest beyond price action, meanwhile, focused on Bitcoin’s correlation with both gold and stocks.

פֿאַרבונדענע: ביטקאָין פייסיז 'היפּש געפאַר' פון פעד אין 2023 - Lyn Alden

Charles Edwards, CEO of crypto investment firm Capriole, noted that Bitcoin was continuing its historical tendency to play “catch-up” with gold.

“There is a relationship between Bitcoin and gold and gold is pumping,” he געשריבן.

“When you lag the gold price, it’s easier to see. Bitcoin tends to top between 0–6 months after gold and bottom 0–3 months after gold. This gap is approximate and will likely close with time.”

Bitcoin’s correlation to gold stood at practically 100% on the day.

Conversely, Kaleo hoped for a “decoupling” from the S&P 500, with Bitcoin primed to break out to the upside.

“BTC broke out above HTF resistance dating back to the November ’21 ATH ~two weeks ago,” a further tweet stated.

“It looks like it’s about to continue that trend, as it’s currently on the verge of breaking out of a pennant it’s been accumulating in above support.”

די מיינונגען, געדאנקען און מיינונגען אויסגעדריקט דאָ זענען די מחברים 'אַליין און טאָן ניט דאַווקע פאַרטראַכטן אָדער רעפּראַזענץ די מיינונגען און מיינונגען פון קאָינטעלעגראַף.