{"id":18631,"date":"2023-05-14T16:41:19","date_gmt":"2023-05-14T16:41:19","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-recovery-may-trigger-buying-in-these-4-altcoins\/"},"modified":"2023-05-14T16:41:22","modified_gmt":"2023-05-14T16:41:22","slug":"bitcoins-recovery-may-trigger-buying-in-these-4-altcoins","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-recovery-may-trigger-buying-in-these-4-altcoins\/","title":{"rendered":"Bitcoin\u2019s recovery may trigger buying in these 4 altcoins"},"content":{"rendered":"
The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment.<\/p>\n
A silver lining is Bitcoin\u2019s solid bounce on May 12. Several analysts anticipate Bitcoin to start a recovery but monitoring resource Material Indicators sounded cautious. <\/p>\n
In a recent analysis, they said that the lack of a strong bid from the whales at lower levels could be a concerning sign. They believe that the bullish perspective will invalidate if Bitcoin sustains below the 200-week moving average.<\/p>\n