BTC price eyes record monthly close: 5 things to know in Bitcoin this week

💡 DMK Insight

Bitcoin’s bounce to $116,000 is raising eyebrows, especially with stocks rallying on potential US-China trade talks. Traders are feeling jittery despite the bullish sentiment in equities, which suggests a disconnect. This could indicate that Bitcoin is still viewed as a risk-off asset, with traders hesitant to dive in fully. If Bitcoin can hold above $115,000, it might attract more buyers, but a failure to maintain this level could lead to a quick sell-off. Keep an eye on the correlation with stock indices; if they continue to rise, Bitcoin might follow, but if stocks falter, expect Bitcoin to react negatively. Watch for volume spikes around key levels—if we see significant buying pressure at $116,000, it could signal a stronger upward trend. On the flip side, if the trade deal news fizzles out or doesn’t meet expectations, we might see a reversal in both markets. Traders should monitor sentiment closely, as any shift could lead to volatility. Also, keep an eye on the daily RSI; if it approaches overbought territory, it might be time to reassess positions.