In this video, we break down Bitcoin on the 15m chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is currently trading at approximately $62,816 (€54,197), consolidating within a narrow 24-hour range between $62,423 and $64,200. After a brutal multi-week stretch that saw the cryptocurrency plunge below the critical psychological floor of $60,000, the market is showing signs of stabilizing.
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Bitcoin Insights Today
-Capital Rotation to AI & SpaceX: Analysts note that a structural headwind is dragging on crypto as massive amounts of speculative capital rotate out of digital assets into booming Artificial Intelligence equities and the highly anticipated $1.8 trillion SpaceX IPO.
-Corporate Treasury Action: Providing a modest floor to the market, institutional buyers are stepping back in. MicroStrategy recently disclosed a fresh purchase of 1,550 Bitcoin ($100 million), while Hyperscale Data announced its Bitcoin treasury has successfully built up to 709 BTC.
-Macroeconomic Pressure: The broader market remains highly cautious ahead of tomorrow's US Consumer Price Index (CPI) print and the upcoming European Central Bank (ECB) decision. Stronger-than-expected macro data has fueled "higher-for-longer" interest rate fears, keeping pressure on high-risk assets.
-Geopolitical Relief: On a positive note, immediate geopolitical risk premiums have receded following reports that Israel and Iran have halted recent military operations, easing global liquidity fears.
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