Bitcoin Price Support Near $82K Under Threat as Nasdaq Triggers 'Double Top'

Description

Research service Ecoinometrics stated on Monday that bitcoin's (BTC) long-term recovery is closely tied to the Nasdaq's ability to trend upward, highlighting the significant positive correlation between the two. Unfortunately for crypto bulls, the Nasdaq triggered a major bearish reversal pattern known as a "double top" on Monday, putting BTC's 200-day simple moving average (SMA) support at risk. Bitcoin, the leading cryptocurrency by market value, has dropped over 10% in the past 24 hours, reve...