Bitcoin Holds Steady Above $28,000 Amid Surge in U.S. Retail Sales

Bitcoin continues to trade above $28,000 on Tuesday, holding its position close to a two-month high. This resilience can be linked to an unexpected 0.7% increase in U.S. retail sales for September. After dipping from a peak of $30,000 on Monday to a low of $27,855.21 yesterday, the digital currency rebounded to over $28,600 today. This marks Bitcoin’s highest value since August 18, after breaking through a crucial resistance level of 63.00 on the Relative Strength Index (RSI), which peaked at 65.00.

On the other hand, Ethereum experienced a decline after briefly reaching a high of $1,628.16. Misleading information regarding the approval of a spot Bitcoin ETF by Blackrock contributed to a drop in the cryptocurrency’s value, which fell to a low of $1,570.89 today. Following the failure to exceed an RSI ceiling of 49.00, Ethereum seems to be aiming for a lower level at $1,540, effectively ending its four-day winning streak.

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