Sharp Sell-Off in Global Markets: Gold Below $4,000, Bitcoin Below $60,000

Bitcoin has fallen below $60,000, losing a critical psychological level. Although the RSI is at 17, indicating oversold conditions, the MACD and moving averages confirm a strong downtrend. The emphasis on 'sharp sell-off' in the news headline reflects negative market sentiment. While a short-term technical rebound is possible, the current downward momentum suggests a high risk of further decline.

The sharp decline in gold prices and oversold technical indicators suggest that the downtrend may continue in the short term. Although the RSI 14 at 13.3 indicates oversold conditions, the MACD below its signal line and in negative territory confirms weak momentum. The price trading below the 20- and 50-day moving averages indicates a strong downtrend. The emphasis on 'sharp selling' in the news headline and gold falling below $4,000 suggest negative market sentiment and that selling pressure may persist. Therefore, a bearish outlook appears more likely in the short term.

The DXY remains technically neutral with an RSI of 59, while the MACD staying below its signal line indicates short-term weakness. Although the global selling pressure highlighted in the news headline could reduce risk appetite and boost demand for the Dollar as a safe haven, sharp declines in gold and Bitcoin point to a liquidity squeeze. In this context, the upside movement of the Dollar index may remain limited. Despite trading above the SMA20 and SMA50, momentum indicators do not support a rally. A pullback toward the 101.50 support level is highly probable in the short term.