Bitcoin has resumed its affinity for the upside after the slight retracement last week and relative uncertainty earlier this week. That uncertainty was caused as the market eagerly anticipated inflation data which turned out softer than anticipated.
If it maintains the same range, then we should expect Bitcoin to continue rallying, and a potential reversal near the $25,500 price range.BTC holders should note that the bullish momentum has notably reduced according to the MACD. This is in comparison to previous rallies within the current range, especially in July.
This ETF has been buying during the rallies and duping a lot of BTC during the dips. Thus, contributing heavily to the price action.
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