BTCUSD
Analysis from the aspect of information
Bitcoin at war: The 'safe haven' bubble is bursting
After the outbreak of the Russia-Ukraine conflict, the cryptocurrency market fell across the board, with BTC falling below $35,000, an intraday drop of about 10%, and a 7-day drop of 20.4%. In the past 24 hours, 151,000 people lost $510 million in liquidation.
Bitcoin has always been regarded as a safe-haven tool, but when the war comes, its performance is sluggish. Compared with the sluggish performance of "digital gold" Bitcoin, the real gold is bullish. Driven by capital hedging, spot gold once stood at $1,950 per ounce on the 24th, setting a new high since January last year. Gold has shown a real safe-haven function relative to Bitcoin. So BTCUSD will fall next.
technical analysis
Now BTCUSD points are in a descending channel.
The divergence indicator appears to be extending downwards.
KDJ indicator Sicha down.