36 Hours: Can Bitcoin Close the Month of May in the Green?

Luna Token Falls 70% on Listing As Investors Check Out

LUNA traded under $6 on Monday morning, after peaking at $18.9 following the launch of Terra 2.0 on Saturday. The rebranded coin lost over 70% of its value after the relaunch, suggesting an understandable lack of faith in Do Kwon ‘s attempted revamp.

Technically speaking

Can Bitcoin Close May in the Green?

Bitcoin/Dollar closed a 9th consecutive red weekly candle, falling -2.9% to $29,400. This price-action officially sets another all-time record selling streak amidst a backdrop of US stock-market strength.

SPX & BTC decoupling?

But the interesting technical picture isn’t painted in Bitcoin this time around.

Dollar Index Drops

One tail wind for risk-assets is the sustained drop in US-Dollar strength, which currently stands at 101.3 points.

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Read More: Bitcoin Dominance Reaches 7-month High as Altcoins Bleed

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Chris on Crypto

Chris on Crypto

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.