Chart Of The Day: Don’t Look Now, But… Bitcoin Is Back

Summary Digital gold spent the time since December 2024 trading sideways, then pulling back, then chopping around for a while. Crypto chatter went quiet. The MoneyShow Chart of the Day is a six-month chart of BTC-USD. Bitcoin popped more than 5% yesterday on solid volume, putting it firmly back in the six-figure zone above $101,000. Secondary indicators like RSI have also been turning up. By Mike Larson Don’t look now, but… Bitcoin is back! Prior to the last couple of days, “real” gold had been grabbing all the attention, hitting new highs above $3,500 an ounce before pulling back. The precious metal has been a “go-to” asset for protection from the dollar’s decline and market uncertainty driven by tariffs and geopolitical chaos . Meanwhile, “digital” gold spent the time since December 2024 trading sideways, then pulling back, then chopping around for a while. Crypto chatter went quiet. But look at the MoneyShow Chart of the Day – a six-month chart of BTC-USD. You can see that Bitcoin popped more than 5% yesterday on solid volume, putting it firmly back in the six-figure zone above $101,000. Bitcoin (BTC-USD) Secondary indicators like RSI have also been turning up. Unlike in the immediate aftermath of President Trump’s election, I’m not picking up on much crypto euphoria, either. Could that be a sentiment-based indicator suggesting Bitcoin has room to run? We’re clearly coming into overhead technical resistance around the old highs. And I’d like to see more convincing evidence Bitcoin has broken the “tech stock tie” to become a true, less-correlated store of value asset. But this is encouraging action – and it bears watching. Digital gold could grab the spotlight back from real gold if it keeps up! Originally published on MoneyShow.com Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.

Source: Seeking Alpha