The cryptocurrency market reacted with a relatively mild sell-off following Moody’s decision. The agency downgraded the U.S. credit rating from AAA, which weakened sentiment in the stock market and boosted demand for safe-haven assets. However, Bitcoin is down just over 1.2%, pulling back to around $103,000. The scale of the decline is relatively small and comparable to the drop seen in Wall Street index futures (US500).
Bitcoin (H1 interval)
BTC’s price has pulled back to the EMA200 (200-session moving average, red line), which has served as a key support level since mid-April.
Source: xStation5
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