{"id":70758,"date":"2023-10-09T22:16:11","date_gmt":"2023-10-10T02:16:11","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-slips-with-stocks-but-remains-in-an-uptrend-watch-these-levels\/"},"modified":"2023-10-09T22:16:13","modified_gmt":"2023-10-10T02:16:13","slug":"bitcoin-slips-with-stocks-but-remains-in-an-uptrend-watch-these-levels","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70758","title":{"rendered":"Bitcoin Slips With Stocks but \u2018Remains in an Uptrend.\u2019 Watch These Levels."},"content":{"rendered":"
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\n Bitcoin
\n and other cryptocurrencies slipped Monday amid a risk-off move in wider markets, but digital assets remained above key levels with analysts bullish that a recent uptrend can continue.<\/p>\n

The price of Bitcoin has fallen more than 1% over the past 24 hours to near $27,500, retreating from just shy of the $28,000 level seen before the weekend. The largest digital asset remains comfortably above a trading range around $26,000 that had dominated for more than a month until a rally at the end of September, though the token has failed to consolidate gains at its recent peak near $28,500.<\/p>\n

\n

\u201cTechnically, Bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,\u201d said Alex Kuptsikevich, an analyst at broker FxPro. \u201cAll eyes will be on Bitcoin to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to $29,000 to $29,300.\u201d<\/p>\n

Bitcoin was under pressure on Monday amid a wider rotation away from riskier assets\u2014like stocks and cryptos\u2014by investors at the start of the week, with the
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n poised for losses. The risk-off move comes after an unprecedented attack by terror group Hamas on Israel over the weekend, which has added a major dose of geopolitical risk into global markets.<\/p>\n

\u201cIf the pressure on risk assets \u2026 remains, all eyes will be on the $27,200 to $27,000 area\u201d for Bitcoin, said Kuptsikevich. \u201cWithout significant support here, we could be talking about a change from a short-term trend to a downtrend.\u201d<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014shed 2% to below $1,600. Smaller tokens or altcoins also were weak, with
\n Cardano
\n down 2% and
\n Polygon
\n losing 3%. Memecoins also retreated, with
\n Dogecoin
\n dropping 4% and
\n Shiba Inu
\n falling 4%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies slipped Monday amid a risk-off move in wider markets, but digital assets remained above key levels with analysts bullish that a recent uptrend can continue. The price of Bitcoin has fallen more than 1% over the past 24 hours to near $27,500, retreating from just shy of the $28,000 level seen […]<\/p>\n","protected":false},"author":1,"featured_media":69064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-70758","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Slips With Stocks but \u2018Remains in an Uptrend.\u2019 Watch These Levels. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies slipped Monday amid a risk-off move in wider markets, but digital assets remained above key levels with analysts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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