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Bitcoin holds 200-week average as trader says ‘inflection point’ is here

From cointelegraph.com

Bitcoin (BTC) held its most recent gains into May 27 as traders called for a change in “bearish” market sentiment. 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, which should form a headwind for risk assets but failed to dampen a BTC price ... (full story)

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  • Category: Technical Analysis