Flat or Breakout: What to Expect from Bitcoin This Week

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Bitcoin sentiment seldom improved this past week as it remained stuck inside a $150-wide trading area. Traders maintained their distance from the top cryptocurrency while shifting their focus on the DeFi market. All eyes now remain on how the S&P 500 index performs. The US benchmark has formed a record positive correlation with Bitcoin. A clueless Bitcoin is hanging between a booming DeFi craze and a choppy US stock market as it enters the new week. The benchmark cryptocurrency closed the previous weekly session marginally lower by 0.97 percent. A week before that, it rose by 2.52 percent. And another weekly session before it, the BTC/USD exchange rate plunged 0.47 percent. As one can tell, Bitcoin is going through a period of low volatility and higher uncertainty. DeFi, US Stocks Lying amid an annoying Bitcoin trend are two hugely powerful fundamentals: DeFi and the S&P 500. Trend comparison between the…

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