Bitcoin’s price-bound price action could reach a breaking point if the sharp drop in U.S. regional bank stocks intensifies. How might altcoins react?
The Bitcoin ETFs generated strong volumes on Jan. 11, but that did not translate into higher prices in Bitcoin, indicating that the event was largely priced in.
Bitcoin’s sharp fall on Jan. 3 suggests that market participants are nervous ahead of the SEC's long-awaited decision on the spot Bitcoin ETF applications.
Bitcoin is expected to face stiff resistance at $45,000, but the possibility of a rally above the key price level remains high.
Bitcoin and select altcoins are witnessing profit-booking on rallies, increasing the likelihood of a short-term pullback.
Bitcoin and altcoins are trying to find support at lower levels, indicating that the sentiment remains positive, and that traders are buying the dips.
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