Proactive Investors – Bitcoin’s recent spike on the spot markets, which culminated in the best single-day rally in nearly two months on Monday, appears to have found its peak.
The world’s largest cryptocurrency spiked more than 7% against the US dollar yesterday, following solid green candlesticks in the two days prior.
But today saw a rejection at $65,000, after which the pair fell back below $64,000.
Bitcoin recent bullishness was seen by some as a ‘Trump trade’ following the shocking attempt on former president Donald Trump’s life on Saturday.
Trump’s triumphant display after the assassination attempt ramped up the odds of him winning the high-stakes election in November.
As a subjectively pro-crypto candidate, traders took this at a bullish signal, no matter how macabre the underlying catalyst.
Despite bitcoin retreating since, Trump’s nomination of JD Vance as his running mate could have positive long-term consequences…
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