Bitcoin price topped out at $66,867 on Monday after teasing with a shift in market sentiment. Cryptocurrency markets await halving event in five days, likely the next bullish narrative after US spot BTC ETF s. Hong Kong has approved existence of Bitcoin and Ethereum ETF s, but they won’t launch yet as Dubai Conference takes precedence. Bitcoin price showed a bit of strength during the early hours of the Asian session. This followed bullish news about spot exchange-traded funds .
Bitcoin price outlook as market closes in on BTC halving The Bitcoin price is trading with a bearish bias on the lower timeframe, nose-diving with multiple technical indicators leaning in favor of the downside. Both the Moving Average Convergence Divergence and the Awesome Oscillator are in negative territory, suggesting the short-term bearish outlook may not be exhausted just yet and that the bearish cycle could continue.
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