Bitcoin price prediction: After a gruesome start to the week, Bitcoin and select leading altcoins are stabilizing before either breaking out or continuing with the fall. The bellwether cryptocurrency has in the last 24 hours sustained above $63,000, underscoring exhaustion among bears and the unwillingness of whales and retail investors to take an early chance to buy BTC.
The bearish cloud hovering since the weekend has seen Bitcoin price plunge by approximately 14% to trade at $63,326 on Wednesday.
Bitcoin Price Prediction As The ETF Daily Net Inflow Sees Red
The rally to the new all-time high of $73,737 can majorly be attributed to the approval of Bitcoin ETFs in January. Prior to the nod on January 10, sentiment had been improving as investors bought the rumor.
Institutional and retail investors overwhelmingly jumped on the ETF bandwagon soon after, causing volumes to rise exponentially to unprecedented levels.
This increase in volume also ignited a parabolic rise in BTC as de
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