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Bitcoin has rebounded above $78,000, offering hope to bulls, but technical signals and geopolitical risks threaten further downside. Rising U.S.-China tensions and yuan devaluation add volatility, complicating Bitcoin’s fragile recovery.
- Bitcoin's 50-week moving average at $78K is a critical support level for determining market direction.
- A yuan devaluation beyond 7.20 per dollar historically precedes Bitcoin rallies, but China's crypto crackdown may dampen this effect.
- The 'death cross' (50-day MA below 200-day MA) and descending trendline signal bearish technical pressure on Bitcoin.
📎 Source reference: crypto-news-flash.com
Other Tags: Nikkei, People’s Bank of China