Despite rising interest from both institutional and retail investors, the Bitcoin price has been unable to rise above the $70,000 psychological mark since July 29.
Bitcoin Analysis news
Bitcoin’s upcoming price recovery will be driven by a handful of unique factors.
Bitcoin price was rejected due to profit-taking and big resistance at $69,000, but breaking it would trigger over $1.6B in short liquidations.
Bitcoin price saw a sharp sell-off today, but the BTC futures market is showing zero signs of fear.
Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
Bitcoin whale accumulation, chart technicals, and a declining stablecoin dominance hint at a BTC price bull run ahead.
To confirm a potential breakout from its current crab walk, Bitcoin needs to close the week above $68,700, according to market analysts.
New and old Bitcoin whale wallets have been gobbling up BTC, mirroring a 2020 trend that saw the asset rally by 550%.
Bitcoin pulled back from its range high as investors moved to greener pastures, but a possible misstep by the SEC could benefit BTC.
Bitcoin’s price rejection at $68,500 and the record high use of leverage could be signs that BTC is in for a sharp correction.