Bitcoin: Warren Buffett Wouldn't Want All the BTC in the World for $25
Categories: Bitcoin US
Bitcoin: Warren Buffett Wouldn't Want All the BTC in the World for $25
It was a volatile weekend for Bitcoin, which began by falling sharply on Friday night, hitting a low of $37,425 (in line with the sharp drop in the US stock market, and in particular the Nasdaq, on Friday afternoon), before bouncing back on Saturday afternoon and especially on Sunday, peaking at just over $39,000.In terms of news, the highlight of the weekend was Warren Buffett and Charlie Munger's speech at Berkshire Hathaway's (NYSE:BRKa) annual shareholder meeting on Saturday, during which they spoke about Bitcoin.
Bitcoin's technical profile remains bearish
From a chart perspective, a step back in daily data shows that bitcoin's solid rise over the weekend has not improved the cryptocurrency's bearish profile.It remains stuck below several key obstacles, including a downtrend line visible since early May, currently at around $39,000, then the key psychological threshold of $40,000, and the 100-day moving average at $40,900.
On the other hand, it should be noted that bitcoin took support from the $37,500 area for its weekend rebound, confirming the importance of this support, which has helped limit bitcoin's losses since late February.