Bitcoin holds 200-week average as trader says 'inflection point' is here
Bitcoin sentiment is overly bearish, some claim, with BTC price protecting a key moving average trend line. Bitcoin (BTC) held its most recent gains into May 27 as trader s called for a change in “bearish” market sentiment. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Trader awaits "pretty major move" for BTC price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700. The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected. Markets then began to price in a June interest rate hike from the Federal Reserve — something which should form a headwind for risk assets but which failed to dampen a BTC price rebound. Despite the price comeback, however, the mood remained cautious — for some, overly cautious. “Retail is so extremely bearish on ...