Bitcoin has little support above $60,000 in an ongoing headache for bulls as BTC price hesitates near old all-time highs.
BTC price analysis warns that "downside is the path of least resistance" despite Bitcoin rebounding from its latest dip.Market dynamics revealed arguments for both fresh bullish momentum and a continued correction.
“Yesterday's ETF net flows saw a minor net inflow at +$15.6M. $GBTC saw a net outflow of -$350.1M,” popular trader Daan Crypto TradesAt the same time, a lack of bid liquidity below spot price kept the odds of a return to lower support levels in play. “With last week's close at $68.9k and last month's close at $61.1k we could see one or both of those levels challenged relative to the candle close/open on Sunday,” he added.Flipping $20,000 over a two-week period in 2020, for instance, was what allowed Bitcoin to explore new all-time highs on and off for the subsequent eleven months.With the next due in mid-April, Bitcoin should be in the midst of its “pre-halving retracement” phase, with a “post-halving reaccumulation phase” to follow.
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