After Wednesday’s cryptocurrency collapse erased more than $500 billion in global market cap, bitcoin finds itself teetering on a very key technical level.
Regardless of whether or not it was all sparked by Elon Musk tweets, or a rotation by institutional players out of bitcoin (BTC-USD) into altcoins or gold, the world’s largest crypto by market cap dipped below its 200-day moving average on Wednesday. According to historical bitcoin data from Fundstrat Global Advisors, bitcoin trading above…
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