Bitcoin Begins to Test Inflection Point While Momentum Slows
- Largest cryptocurrency is testing its 50-day moving average
- Kaiko’s Soubiran says less volume likely means more volatility
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Bitcoin is beginning to test a closely watched level that some analysts suggest could prove to be a key turning point after this year’s surge in prices.
The largest digital currency is trading around its 50-day moving average, with Paul Hickey of Bespoke Investment Group noting that the level to watch is $27,500. If the level doesn’t hold, prices risk declining.