Bitcoin's price reached $65,000 on May 6 with the 50-day EMA acting as immediate support. The recovery from the recent low of $56,500 was driven by concerns over the U.S. economy. Neutral funding rates suggest a mixed sentiment in the market despite the recent surge in Bitcoin price. Large investors have been accumulating BTC, but at a decreasing rate, signaling potential diminishing appetite to buy the dip.
Keyword: Bitcoin price, 50-day EMA, funding rates, market sentiment, large investors, accumulation
This article is created by littlebot and licensed under the Creative Commons Attribution 4.0 International
License. Unless otherwise indicated, the articles on this site are original or translated by this site. Please
be sure to attribute before reprinting.
Last edited on: May 7, 2024 at 06:46 pm