Cijena bitkoina se vraća na sedmične najniže vrijednosti ispod 29 dolara jer Nasdaq predvodi novi pad američkih dionica

bitcoin (BTC) fell on the May 24 Wall Street open as weakness in stocks saw sell-side pressure return.

Equities give crypto no respite

Podaci iz Cointelegraph Markets Pro i TradingView followed BTC/USD as it revisited its lowest levels of the past seven days.

At the time of writing, BTC/USD traded at around $28,800 amid volatility, having hit $28,614 on Bitstamp — a zone last seen on May 18.

The S&P 500 lost 2.4% on the open, while the Nasdaq 100 managed a 3.5% decline.

Stocks once again controlling the price of #Bitcoin. What’s surprising is how well it’s holding up relatively though. Most stocks having way larger daily drops than $ BTC.

- IncomeSharks (@IncomeSharks) Može 24, 2022

In a fresh Twitter update, Cointelegraph contributor Michaël van de Poppe označen a pivot point of $29,400 remaining as resistance, opening up the opportunity for a “sweep” of lower support levels.

“No break of that area at $29.4K, so we’ll see levels that Bitcoin could be testing here,” he commented alongside a chart showing the targets.

“Grey zone has been supported the past week, but a sweep and test around $28.3Kish isn’t a bad thing either. Would be massive for longs.”

For on-chain monitoring resource Material Indicators, meanwhile, a wall of bid support formed the basis for assessing where BTC/USD could go next.

Woke up to #Bitcoin sitting on top of ~$50M in bid liquidity. This could be a good setup for a rally, but lately these concentrations of liquidity have been getting taken. Waiting to see if this is truly support or it aims to get filled. #FireChartshttps://t.co/VzE3V2kA8Q pic.twitter.com/VgKJw9h0kP

- Pokazatelji materijala (@MI_Algos) Može 24, 2022

A subsequent update pokazala the market eating into the wall, which had little presence below $28,800.

Altcoin drop intensifies

Altcoins once more accelerated declines on the day, with several of the top ten cryptocurrencies by market cap approaching 10% daily losses.

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Eter (ETH) lost $2,000 to trade at around $1,920 at the time of writing and approaching its last line of support above the wick down to $1,700 lows seen last week.

The biggest loser on the day was Solana (SOL), which traded down 9.3% at $48.

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