The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Bitcoin entered May trading firmly above $78,000, recording a 3.5% increase during Friday's session to secure a bullish weekly close. While the price previously hit record highs of $79,000 after reclaiming its 100-day Moving Average, it is currently trading at $78,400 with limited price movement over the last 24 hours. The $78,600 resistance level remains a critical hurdle after being tested for the seventh time, while extreme funding rates suggest potential market overextension. Despite open interest holding steady at $55 billion, analysts remain cautious of a potential correction if current support levels fail. Investors are now closely monitoring the upcoming FED meeting for signals on monetary policy and its impact on high-risk assets.
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