Bitcoin is undergoing one of its most severe corrections in recent years, marked by a record $3.7 billion outflow from US-listed Bitcoin ETFs in November. The price plunged more than 35% from a peak of $126,000 in October to about $80,500 by late November. This significant downturn mirrors broader crypto market vulnerabilities, with the total market capitalization dropping below $3 trillion. Technical analysis suggests that while Bitcoin remains in a corrective downward trend, early signs like improving RSI and candlestick patterns indicate a potential reversal if key resistance levels are breached. Traders are watching closely for a decisive close above $90,800 to confirm a bullish trend shift, while caution persists amid fragile market sentiment.
Continue to read Bitcoin Faces Steep Decline Amid Historic ETF Outflows; Technicals Hint at Possible Rebound
Bitcoin is undergoing one of its most severe corrections in recent years, marked by a record $3.7 billion outflow from US-listed Bitcoin ETFs in November. The price plunged more than 35% from a peak of $126,000 in October to about $80,500 by late November. This significant downturn mirrors broader crypto market vulnerabilities, with the total market capitalization dropping below $3 trillion. Technical analysis suggests that while Bitcoin remains in a corrective downward trend, early signs like improving RSI and candlestick patterns indicate a potential reversal if key resistance levels are breached. Traders are watching closely for a decisive close above $90,800 to confirm a bullish trend shift, while caution persists amid fragile market sentiment.
Continue to read Bitcoin Faces Steep Decline Amid Historic ETF Outflows; Technicals Hint at Possible Rebound
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