Bitcoin Rally Stumbles After Failing at Technical Hurdle

Bitcoin is on the back foot after failing to scale its 200-day moving average.

The world’s largest cryptocurrency jabbed at the closely monitored technical level on March 28 but is down about 7% since then and back in the $35,000 to $45,000 range that’s largely held in 2022. The struggle to vault to the moving average may lead to caution about Bitcoin’s immediate outlook.

Source: Bloomberg