The largest cryptocurrency failed to hold higher levels, which, with its old 2021 all-time highs at $69,000 staying unchallenged.
The day’s flows into and out of the United States spot Bitcoin exchange-traded funds began promisingly. GBTC saw just $96 million in outflows, per initialfrom crypto intelligence firm Arkham — less than a third of the tally at the start of the week. So far, every day this week has seen net outflows from the spot ETFs — a unique time in their short history.Analyzing current BTC price action, popular trader Skew suspected deliberate moves to undermine bullish momentum.in a post on X about spot order book data from the world’s largest exchange by volume, Binance.Fellow trader Crypto Tony joined those calling for a reclaim of $69,000 in order to ensure upside continuation.
“If Bitcoin successfully flips this zone for support, there is very little standing in the way of price making its way towards the target of this falling wedge: $100,000,” he told X followers.Eyeing the downside, meanwhile, trader and analyst Rekt Capital drewThen, he noted, the period immediately before the block subsidy halving produced marked downside..
“Bitcoin will need to continue to maintain these current highs to avoid a 2016-like fate where the initial reaction was strong but short-lived.”currently due to hit in mid-AprilThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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