The last couple of days saw the bitcoin price fall as low as $56,500. However, despite a huge sell off from the Spot Bitcoin ETFs, the bulls were able to buy the price back up. $BTC is currently hanging onto the support at $59,000 by its fingertips. Will the bulls be able to hold the line?
Bears throw the kitchen sink at $BTC
The widely expected bitcoin dump down, perhaps to $51,000 and even below, has not yet materialised. The bears have thrown the kitchen sink at $BTC, and Wednesday’s massive net sell-off out of the Spot Bitcoin ETFs of $563.7 million might have been expected to provide that last tip over the edge. The pressure is unrelenting. Thursday saw yet another net outflow day, even though it was only $34.4 million. This was the seventh consecutive day of outflows.
$BTC holds the line
Source: Coingecko/TradingView
Looking at the chart for the daily time frame, the $BTC price has done heroically well to claw its way back above the last line in the sand of $59,000 a
We współpracy z: https://cryptodaily.co.uk/2024/05/bitcoin-btc-still-hanging-onto-support-will-it-hold
