Bitcoin Risks Slide to $50,000 as AI Stocks Pull Capital From $60,000 Support
Updated
Updated · Reuters · Jun 8
Bitcoin Risks Slide to $50,000 as AI Stocks Pull Capital From $60,000 Support
3 articles · Updated · Reuters · Jun 8
Summary
$60,000 has become bitcoin's key line, with analysts warning a convincing break could send the token toward the next psychological target near $50,000.
Half its value has been erased since the October peak as money rotated into AI stocks and high-profile upcoming listings such as SpaceX, draining demand for the cryptocurrency.
$61,778 marks the nearby 200-week moving average that reinforces support, but repeated failed rebounds have strengthened bearish expectations that $60,000 will eventually give way.
$75,685 and $78,840 are the hurdles for any sentiment reset, with bitcoin needing to clear its 30-day and 200-day moving averages after a May recovery attempt stalled.