BTC/USDT closed its weekly candle near the support area, and nothing is particularly clear.

This week, we will likely see the same thing happening, and little will be done.

A downtrend move can be expected.

CryptoQuant analyst, Darkfost, says 3.56M BTC is now considered lost, an all-time high representing 17.7% of circulating supply.

#S&P 500 ANALYSIS

The S&P 500 has broken out of the ascending triangle with strong volume, marking a new all-time high.

Currently, it is consolidating within a rising wedge pattern, where a breakdown could trigger a retest of the ascending triangle breakout level.

Keep a close eye on the further price action for confirmation. Given its strong correlation with crypto, the S&P’s next move will be key in shaping overall risk sentiment.

#BTC/USDT ANALYSIS

Bitcoin is rebounding from the horizontal demand zone of the descending triangle, showing signs of strength.

We need to wait for a solid breakout or breakdown of the pattern to confirm the next directional move.

Keep a close eye on the further price action developments.