Bitcoin Slides as Macro Pressure Deepens

Technical signals show the selloff is still working through the market. Bitcoin’s relative strength index fell to 42.9, down from 56.2 a day earlier, while the token remains below its 50-day moving average of $63,284.60 and far under its 200-day average of $71,858.72, a setup that typically keeps systematic traders cautious even after sharp intraday bounces.

The latest weakness also hits companies tied directly to bitcoin prices. MicroStrategy, now trading under the MSTR ticker, closed at $96.12, down from $98.65 the prior session and more than 40% below its 200-day moving average, underscoring how quickly leverage to bitcoin can cut both ways. Coinbase fell to $165.68, little changed on the day but still well below its 200-day average of $215.58, as crypto platform stocks struggle to regain momentum when digital-asset flows slow.

Adalytica’s Bitcoin Fear & Greed Index also points to a market that is healing only gradually, not yet breaking into optimism. The gauge stands at 53, neutral, after a 16-point one-day drop and a 46-point slide over seven days, suggesting the latest bounce has not rebuilt conviction among traders. At the same time, a separate Adalytica dollar signal shows extreme fear in the U.S. currency complex, a reminder that broader macro crosscurrents are still driving portfolio shifts across asset classes.

For investors, the key issue is whether bitcoin can hold the mid-$60,000 area or whether macro and policy pressure push it back toward the $62,000-$60,000 zone where recent buyers may be forced to defend positions. The next catalyst is likely to come from Federal Reserve messaging, any fresh comments on crypto regulation and signs of whether institutional inflows can absorb the selling before volatility spills further into exchange stocks, miners and treasury-heavy balance sheets.