Bitcoin is poised to end March with a 2% gain, maintaining its position above $68,000 and narrowly avoiding a historic six-month losing streak. The cryptocurrency's performance is closely watched as it hovers near the 200-week moving average (200WMA) of $59,000, a critical support level during bear markets. Bitcoin's resilience above this threshold suggests continued strength.
In addition to its USD performance, Bitcoin is showing signs of recovery against gold, potentially marking its first positive monthly performance against the precious metal in eight months. The Bitcoin-to-gold ratio stands at approximately 16 ounces, as gold trades near $4,200, down 25% from its January peak. Bitcoin's ability to maintain support above the 200WMA while strengthening against gold could signal a sustained uptrend.
Bitcoin Holds Monthly Gains, Avoids Historic Losing Streak
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