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| Tesla Jual US$930 Juta Bitcoin, Harga BTC Bertengger di Zona US$22.800 |
Bitcoin (BTC) staged its first test of critical support on July 21 after news that Tesla had liquidated most of its Bitcoin holdings died down.
Data from Cointelegraph Markets Pro and TradingView on Friday (22/7/2022) shows BTC/USD is focusing on the $22,800 zone after dropping from a multi-week high of $24,280 on Bitstamp.
The pair has apparently reacted quickly but relatively modestly to the disclosure by Tesla that its Bitcoin position was down 75%, or $936 million, in Q2.
CEO Elon Musk's comments, avoiding direct criticism of the cryptocurrency , appear to have helped stem losses. In the company's earnings call, he stressed that the sell-off "should not be considered a verdict against Bitcoin."
The move nevertheless capped off several days of rampant gains, BTC/USD rising in line with stocks as the strength of the United States dollar eased from a twenty-year high.
$22,800 marks the 200-week moving average for the pair, a historically significant trend line that lost as support in June and only passed in recent days.
analytical resource Material Indicators on-chain , the immediate prospects are mixed. While the daily time frame reveals weakness, the data still points to a continued broad recovery on the monthly chart.
"Could mean a retest of the 50 Day Moving Average in the near term, but also means we may not see monthly highs. Remove the noise and take a look at the charts," he told Twitter followers.
day The 50 -day moving average stands at almost the same place as the . 200 -week moving average on that
Meanwhile another analyst pointed out how Tesla broke away from its BTC holdings in mid-June. Over a period of several days last month, inflows to the exchange surged due to more than 63,000 BTC released by market makers (MM).
According to data from on-chain analytics firm Glassnode, meanwhile, news of the sell-off has yet to be reflected in a significant reshuffle of exchange balances from panicked sellers or opportunistic buyers on the day.
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