Key points:
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Bitcoin is fighting again, since gold takes up the care center with profits per week of almost 5%.
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Bitcoin’s correlation with gold is under scrutiny in the midst of ongoing macroconomic changes.
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Merchants see a short -term drop in the middle of a broader BTC price bounce.
Bitcoin (BTC) looked fresh monthly messages on May 6 Wall Street Open as cryptography markets “without direction” contrasted with a gold bounce.
Analysis: Bitcoin, Crypto “largely without direction”
Co -Intelegraph Markets Pro and TrainingView data showed that BTC Price Momentum stopped at $ 95,000 before the last daily closure.
Appreciating closer to the key annual open support level at $ 93,500, BTC/USD seemed caught in limbo while Gold Gold exceeded again.
Xau/USD increased 1.5% in the day at the time of writing, with weekly profits already by 4.4%.
“The implicit vols of Crypto, remain suppressed, with a front bias to drift towards neutral and detect largely without direction,” wrote the commercial firm QCP Capital in its last bulletin for telegram channel subscribers.
QCP observed several swings in the macro spectrum, with the dollar that remains in lower and emerging market coins, especially the Taiwanese dollar, emerging in Awardide’s gold.
“At the same time, the Shakup FX coincides with an increase in gold in gold of 3% on Monday, since investors are inclined in the weakest narrative and price of dollars in geopolitical risk premiums, including the possible US commercial diplomacy,” he continued.
With Bitcoin still to do the same, qcp saw a next “increasingly binary” phase, with a result that BTC “disappoints from the offer of safe gold refuge and relates to more extensive risk representatives.”
In his own analysis, the commercial resource of the Kobeissi letter did not see the narrative of “First Gold, then Bitcoin”.
“In April, Bitcoin joined the gold race, increasing the correlation for the first time in months. Between April 7 and April 21, gold increased +15% along with +12% in Bitcoin,” he observed in a thread X on May 5.
“The flight to decentralized assets and protected by inflation is strong. It continues to observe this trend.”
Macd gives BTC bulls pause to think
When examining technical data, Bitcoin merchants suggested that BTC/USD can be stopping within a broader return.
Related: Bitcoin Eyes wins as macro data makes us recession 2025 ‘Base Case’
The evidence of this came from the convergence/divergence indicator of the mobile average (MACD), a measure of the resistance of the trend that cools conflict signs in the longest and most short time.
#Btc Weekly macd about to cross bullish from a position of force … pic.twitter.com/x2jjk9rhnw
– Dave the wave🌊🌓 (@davthewave) May 6, 2025
The popular merchant Dave the Wave revealed a bullish signal in the weekly MACD, while the daily behavior confirmed a bearish crossing under the zero line.
“BTC is consolidating between the top and bass last week, waiting for the meeting of the FomC tomorrow and the speech of Jerome Powell. Meanwhile, the Daily MacD is crossing bassist, indicating that it slows the impulse,” summarized the companion of a crypto merchant.
Its publication referred to the key macro event of the week, the Federal Reserve meeting to decide on changes in interest rates, which is due on May 7.
Previously, Keith Alan, co -founder of commercial resources material indicators, warned that it was unlikely that the annual open will remain as support.
“To summarize, I will be pleasantly surprised if the self holds,” he told X followers.
“While I am prepared for a wick at a range of $ 88k – $ 90k, I think the level of $ 91.6k around 21 Ma is a probable goal this week.”
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
