Evolution

Bitcoin

Optimism

<p>The U.S. stock markets defy inflation with a persisting climb of the S&amp;P 500 towards 5,000, while the DXY oscillates at a crossroads. Optimism about stable interest rates, according to the FedWatch tool, mixes with a detailed technical analysis of the stock market. Meanwhile, on the cryptographic front, Bitcoin navigates between bullish and bearish waves, creating a tumultuous dance for attentive observers.</p>
<h2 id="h-american-stock-market-s-p-500-towards-5-000-dxy-at-the-crossroads">American Stock Market: S&amp;P 500 towards 5,000, DXY at the Crossroads</h2>
<p><strong>The U.S. stock markets persist</strong> in their climb, defying inflation concerns. Despite uncertainties, the FedWatch tool suggests stable interest rates until March. <strong>The S&amp;P 500 index, showing <a href="https://www.cointribune.com/en/bitcoin-in-retreat-as-the-sp-500-reaches-new-highs/" target="_blank" rel="noopener noreferrer nofollow">a progression of 1.06% last week</a></strong>, is approaching the psychological threshold of 5,000. This rise is encouraged by the prospect of expansionary monetary policies.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Technically, the analysis of the S&amp;P 500 index reveals <strong>a resistance at 4,900</strong>, but a sustained bullish trend, notes <a href="https://en.coin-turk.com/us-stock-markets-continue-to-rise-amid-economic-growth-and-inflation-slowdown-hopes/?utm_source=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_medium=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">CoinTurk</a>. Buyers aim for 5,000, while a break of the moving average at 4,806 could indicate a deeper correction.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" src="https://coin-turk.com/wp-content/uploads/2024/01/spx-grafik.webp" alt="evolution-s&amp;p500">
  <figcaption class="wp-element-caption">
   Evolution of the S&amp;P 500 Index – Source: TradingView
  </figcaption>
 </figure>
</div>
<p>On the side of the <strong>US Dollar Index (DXY),</strong> despite resistance to the downward trend line, bulls maintain the price above moving averages. <strong>The 20-day EMA at 103 and the positive RSI</strong> signal upward momentum. A breakthrough of the resistance would drive the index to 104.50 and 106. However, a fall below the moving averages would indicate a strong defense by bears, threatening a drop to 102. Stock markets continue their dance between optimism and caution, making each movement an anticipation for investors.</p>
<h2 id="h-bitcoin-in-precarious-balance">Bitcoin in Precarious Balance</h2>
<p>The recent skirmishes in the Bitcoin exchange reflect a fierce struggle between bulls and bears. On January 28 and 29, <strong>buyers attempted to propel Bitcoin beyond the 50-day moving average</strong>, set at $42,795. However, bears held firm. Current indicators, such as indecisive moving averages and <strong>an RSI near the midpoint</strong>, do not give a clear advantage to either side. A breakthrough above the 50-day moving average could propel the BTC/USDT pair to $44,700 on exchanges, likely prompting a strong reaction from bears. Conversely, a reversal at $44,700 and a fall below the moving averages could indicate a continuation of the range-bound movement.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>On the other hand, a decline below the 20-day EMA at $41,950 and a sustained hold below this level could lead to a gradual descent to $40,000, and potentially down to $37,980. The next trend movement will depend on whether buyers can push the price above $44,700 or whether bears manage to push the pair below $37,980.</p>
<p>The <a href="https://www.cointribune.com/en/will-the-price-of-bitcoin-soon-explode/" target="_blank" rel="noopener noreferrer nofollow">battle on the Bitcoin front</a> continues, leaving observers alert to the future evolution of this cryptographic battle.</p>

Stock market chills: S&P 500 defies gravity while Bitcoin remains in a precarious balance

Table of Contents

Cointribune EN

Other articles published on Jan 30, 2024

Ripple’s Strategic Global Expansion Amidst SEC Legal Battle

Polygon Labs Seeks to Get DeFi Classified as ‘Critical Infrastructure’

UAE Succeeds in First Cross-Border Payment Using Digital Dirham

"Hong Kong's First Bitcoin Spot ETF Application Receives…"Goals to Launch After Lunar New Year"

Honk Price Prediction: Solana Meme Coin HONK Plunges 14% As This New GameFi Presale Roars Towards...

MultiversX Crypto Price Forecast: Will the EGLD Price Hit $80?

Join our free newsletter for daily crypto updates!