Bitcoin faced troublesome resistance at $65,000 while traders still saw a potential BTC price breakout into a “bullish market structure.”
Traders balked on Bitcoin (BTC) at $65,000 on Monday as crypto and risk-assets remained under pressure.
Data from TradingView showed BTC price volatility returning around Monday’s Wall Street open.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
US equities faced multiple headwinds to start the week, with the US-Iran war quashing risk appetite and a tech-stock sell-off gaining strength.
Trading resource The Kobeissi Letter reported that hedge funds were selling tech stocks “at a record pace.”
“Hedge funds have sold information technology stocks in 6 of the last 8 weeks. This brings total 8-week sales to the largest in at least 10 years,” it said in a post on X, citing Goldman Sachs data.
US tech stock investment trend data. Source: The Kobeissi Letter/X
To be sure, the S&P 500 Index and Nasdaq Composite Index were both modestly higher at the time of writing, while the Dow Jones was down 0.3% on the day.
Oil prices remained above $80 per barrel as the Strait of Hormuz looked set to stay closed amid intensifying rhetoric from both the US and Iran.
CFDs on US WTI crude oil one-day chart. Source: Cointelegraph/TradingView
In a post on Truth Social at the weekend, US president Donald Trump called for Iran to be included in a sanctions package initially focused on Russia.
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