Bitcoin’s Move Below 20-DMA Possible Short-Term Bearish Signal, Analysts Say

After rallying since the start of the year, the world’s largest cryptocurrency by market value, bitcoin, appears to be losing ground. Bitcoin closed below the 20-day moving average (DMA) on Wednesday, according to data from TradingView, signaling a sign of weakness. The last time the cryptocurrency traded below the 20-DMA was in mid-March.

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Cryptocurrencies: 17,052
Markets: 1,231
Marketcap: $ 3.34 T
24h Vol: $ 136.30 B
BTC Dominance: 58.42%