“The S&P 500 Index is Bullish After Rising a Third Consecutive Week”
The fact that the S&P 500 Index (SPX) has risen 2.24% in the last week, coupled with Bitcoin’s modest 0.8% gain, shows an overall bullish trend for risky assets. The U.S. Dollar Index’s downturn contributes to this. The long-term outlook for Bitcoin remains positive due to sustained investor holdings. A 70% Bitcoin circulation has not been sold or transferred in a year, implying that investors remain bullish.
Cryptocurrency ETP assets have greatly increased this year, bolstering confidence. The coming days will show if Bitcoin and altcoins will rally more or take a nosedive, indicated through chart analysis.
“The S&P 500 Index is Bullish”
Following the S&P 500 Index rise, signals suggest the trend continues upward. Meanwhile, Bitcoin is moving toward a crucial resistance point at $38,000, potentially starting a newfound uptrend. Other cryptocurrencies like Ether, BNB, XRP, Solana, Cardano, and Dogecoin show similar positive attributes. Any potential downside will be short-lived if the bull trend persists, and the charts and analysis suggest the crypto market will exhibit profitable movements.
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