Bitcoin price was stronger during the weekend, achieving the highest weekly close in more than two years. There was another swing to the $48,800 resistance wall on Monday morning (Asian business hours) followed by a rejection, pushing BTC price below $48,000.
Optimism Builds For A Bitcoin Price Pre-Halving Rally
Although trading at $47,800 during American business hours on Monday, Bitcoin has the potential to reverse the trend northwards eyeing areas above $50,000.
That said, traders would be looking out for a four-hour close or acceptance above the importance hurdle at $48,500, where BTC could launch an attack on $50,000 resistance and probably close above $51,000 before the end of the week.
A bullish outcome is likely as long the interest spot BTC ETFs have been getting in the last weeks continues. According to ETF data from SoSoValue, the daily total net inflow hit $541.46 million on Friday, bringing the combined cumulative net inflow to $2.77 billion. IBIT, FBTC, and ARKB were t
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