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Extreme fear signals possible Bitcoin capitulation near $65,000
Bitcoin tested the $65,000 level, underperforming the broader cryptocurrency market amid a macro-driven sell-off. Mixed U.S. labor market and home sales data have prompted investors to move away from risk assets. On February 12, Bitcoin broke below the short-term MA20 and MA50 moving averages, triggering technical selling. The decline coincided with drops in the S&P 500 and Nasdaq indices of 1% and 1.5%, respectively, which can be seen as a reaction to the latest economic statistics. David Rosenberg, founder and president of Rosenberg Research, highlighted inconsistencies in U.S. employment trends, urging caution and ... (full story)
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