Bitcoin Rebounds Short-Lived as VIRTUAL and OKB Rise
Bitcoin traded around $63,000 on Thursday, marking three consecutive days of losses. Despite market expectations being met for the US Consumer Price Index (CPI) at 3.4%, the mild rebound in Bitcoin above $64,000 was short-lived.
The technical outlook suggests that Bitcoin is at risk of revisiting $60,000, as it holds below a dense cap of Exponential Moving Averages (EMAs). Momentum indicators also point to a bearish tone, with the Relative Strength Index (RSI) hovering around 45 and the Moving Average Convergence Divergence (MACD) crossing below its signal line.
On the other hand, Virtual Protocol (VIRTUAL) and OKB have emerged as top performers over the last 24 hours. VIRTUAL is trading near $0.6000, sustaining its 10% gains from the previous day. Momentum supports the short-term recovery in VIRTUAL, with the MACD line crossing above the signal line.
OKB, up over 2%, has maintained a near-term bullish bias and holds above all crucial EMAs. A decisive close above $100 could extend the rally toward the 127.2% Fibonacci extension level at $111.