Bitcoin’s network fundamentals are as bullish as ever, but $12,000 may spark a retest of lower price levels, an analyst warns.
Bitcoin (BTC) starts a new week at the upper end of its new price range near $12,000 — will the market finally crack it this week?
Cointelegraph takes a look at five things to consider when working out where Bitcoin is headed in the coming days.
S&P 500 nears all-time highs… again
Unlike previous weeks, macro markets and their impact on Bitcoin are back in the spotlight on Monday.
China leads the way, with its stocks rallying to near their highest levels in two years on news that the People’s Bank of China, or PBoC, is planning to ease monetary policy.
The Shanghai Composite Index rose 2.3% on the day, with year-to-date gains sitting at 13% despite the coronavirus turmoil.
Elsewhere, the S&P 500 is already up over 50% versus its March crash lows, with Goldman Sachs analysts revising their end-of-year forecast upwards. The tar