Bitcoin Sidelines as Equities Surge and Consumer Confidence Hits All-Time Low

According to Glassnode data, consumer confidence has reached an all-time low despite equities reaching new highs. This shift in investor sentiment is driving capital into stocks and commodities while Bitcoin remains relatively stagnant.

The current price of Bitcoin at $63,506.83 is testing the upper Bollinger resistance at $63,415.21. The Relative Strength Index (RSI) sits at 55.5, indicating a neutral reading. Meanwhile, the Moving Average Convergence Divergence (MACD) has printed a bullish golden cross.

A healthy retracement towards the EMA50 support at $63,548.1 appears probable before any sustained continuation of the current trend. The EMA200 at $63,680.49 continues to act as overhead resistance in the prevailing bearish trend structure.