The price of Bitcoin is currently at a critical point, hovering around $88,000. This level is crucial for the cryptocurrency as it needs a bounce to maintain its upward momentum.
The S&P 500 index is also reflecting trends seen during the COVID-19 crash. This correlation could have a significant impact on the performance of Bitcoin in the coming days.
Traders and investors are closely watching the market to see if Bitcoin can break through the $88,000 resistance level. If it fails to do so, we might see a significant correction in the price of the cryptocurrency.
It’s important to keep an eye on how the S&P 500 index performs as it could provide insight into the future movement of Bitcoin. Any major shifts in the stock market could signal potential changes in the crypto market.
