Bitcoin Faces Downturn: "Fair Value Gap" Signals $45K Target Amid AI Concerns Affecting Stocks and Gold

Bitcoin (BTC) neared the $60,000 mark during Tuesday's Wall Street opening, experiencing a nearly 3% intraday decline. Analysts are cautioning that the 200-week exponential moving average, once a support level, may now act as potential resistance. A weekly close below this threshold could trigger a further bearish acceleration. Trader Jelle indicated that the trend remains downward, with any potential rebound unlikely until the $60,000 level is decisively broken.

The broader market is also under pressure. Gold has fallen 2% to $5,140, and U.S. stocks opened lower, influenced by geopolitical tensions in Iran and new U.S. tariff policies. Analysis from Kobeissi Letter points to an $800 billion evaporation in market capitalization due to what they describe as "excessive AI euphoria." This "overly consensus expectation" is unlikely to prove successful, they noted.

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