Bitcoin pulled back from its range high as investors moved to greener pastures, but a possible misstep by the SEC could benefit BTC.
Bitcoin Price news
Spot Bitcoin ETFs have had four consecutive days of inflows, resulting in over $20 billion in cumulative flows since their launch in January.
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.
Bitcoin avoids excess volatility after its trip beyond $68,000, but BTC price analysis warns that sharp moves may be next.
Bitcoin price remains in a seven-month downtrend despite the record ETF net flows.
Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
Analysts warn that Bitcoin price might not be going “to the moon” all in one go.
Multiple onchain metrics showed a surge in activity as Bitcoin price rallied to $68,000, possibly signaling that the price momentum is sustainable.
Industry watchers are pointing to Bitcoin’s increasing correlation with the winning odds of former President Donald Trump.
Bitcoin’s failure to hold $68,000 could be an early sign that a price reversal is beginning.