What's Going On With Bitcoin?

www.investing.com/analysis/whats-going-on-with-bitcoin-200638626

By Naeem Aslam | Jun 01, 2023 05:42AM ET

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BTC/USD

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-0.27%

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Today there is a lot of focus on the US data, especially the US ADP number, which is expected to print a solid reading, which would mean that the US dollar index may pick up more strength. Bitcoin also seems to be losing some correlation with the S&P 500 index, which has been positive more lately, but Bitcoin hasn’t, which is another matter of concern.

Last month, the equity markets recorded another decent month, whereas Bitcoin failed to score gains, mainly because there isn't much momentum in this trade for now. But this doesn’t mean that Bitcoin will move massively lower as the price continues to trade above its 200-day SMA, but the battle is on with the 100-day SMA, which it seems to be losing now.

Bitcoin Daily Chart

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Nov 01, 2023

ECB

4.50%

Oct 26, 2023

BOE

5.25%

Nov 02, 2023

SNB

1.75%

Dec 14, 2023

RBA

4.10%

Oct 03, 2023

BOC

5.00%

Oct 25, 2023

RBNZ

5.50%

Oct 04, 2023

BOJ

-0.10%

Oct 31, 2023

CBR

13.00%

Oct 27, 2023

RBI

6.50%

Oct 06, 2023

PBOC

3.45%

BCB

12.75%

Nov 01, 2023

US 30	33,537.5	-128.8	-0.38%
US 500	4,292.9	-6.8	-0.16%
Dow Jones	33,507.50	-158.84	-0.47%
S&P 500	4,288.05	-11.65	-0.27%
Nasdaq	13,219.32	+18.05	+0.14%
S&P 500 VIX	17.52	+0.00	+0.00%
Dollar Index	105.860	-0.073	-0.07%

Crude Oil WTI	90.77	-0.94	-1.02%
Brent Oil	92.09	-1.01	-1.08%
Natural Gas	2.930	-0.015	-0.51%
Gold	1,864.60	-14.00	-0.75%
Silver	22.390	-0.351	-1.54%
Copper	3.7340	+0.0260	+0.70%
US Soybeans	1,275.00	-26.00	-2.00%

U.S. 10Y	4.579	+0.008	+0.18%
U.S. 30Y	4.709	-0.000	-0.01%
U.S. 5Y	4.616	0.012	0.26%
U.S. 3M	5.456	-0.021	-0.38%
US 10Y T-Note	108.06	+0.20	+0.19%
Euro Bund	128.45	+1.36	+1.07%
10-2 Yield Spread	-47.46	+1.30	+-2.67%

Apple	171.21	+0.52	+0.30%
Alphabet A	130.86	-1.45	-1.10%
Tesla	250.22	+3.84	+1.56%
Amazon.com	127.12	+1.14	+0.90%
Netflix	377.60	+1.24	+0.33%
Meta Platforms	300.21	-3.75	-1.23%
Bank of America	27.38	-0.18	-0.65%

What's Going On With Bitcoin?

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