Bitcoin’s repeated failure to cross above $100,000 increases the risk of a drop under $90,000.
Bitcoin (BTC) bulls tried to start a recovery on Dec. 27 but were met with strong selling at higher levels. A minor positive is that United States Bitcoin exchange-traded funds (ETFs) investors have resumed their purchases. The spot ETFs recorded net inflows of $475.2 million on Dec. 26 after four days of sustained outflows of $1.52 billion, per CoinGlass data.
However, not everyone is bullish on Bitcoin. Chartered Market Technician Aksel Kibar said in a post on X that Bitcoin is forming a bearish head-and-shoulders (H&S) pattern, and if the pattern completes, a fall to $80,000 is possible.
Crypto market data daily view. Source: Coin360
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