Bitcoin price sets new May high above $29.5K as traders eye breakout
Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp - a new May high. The pair had dipped with United States equities at the Wall Street open the day prior, but the weakness was short lived as $29,000 support returned. Ongoing market jitters from the U.S. banking crisis, now impacting several regional banks, continued to shape observer sentiment. What are we drinking this weekend, left or right bank? pic.twitter.com/Mp2yXcI2Fa — Arthur Hayes (@CryptoHayes) May 4, 2023 “100% of all regional Banks in the United States have their stocks in the red today, for the first time ever,” crypto media account Whalewire noted on Twitter. “Thi