Crypto Price Prediction: The uncertainty in the cryptocurrency market prolongs as Bitcoin grapples to break above $72000. The supply pressure triggered a nearly 3.5% loss on April 9th, reflecting its second reversal within three weeks.
This selling pressure also picked up momentum in yesterday’s US trading hours as spot BTC ETF recorded a notable outflow. Bitcoin ETFs registered a net outflow of $19M on April 9, 2024, maintaining a slight negative trend, Spot On Chain reports. BlackRock’s iShares Bitcoin Trust saw a rise in inflows to $128.7M, despite being below the 28-day average. Grayscale Bitcoin Trust outflows halved to $155M from $303M.
Furthermore, cryptocurrency trading volume hit a high on March 6th but has since been on the decline, as per Santiment’s analytics. This downturn in volume is linked to a lack of clear market direction from mid-March, leading to lower trader confidence. Santiment suggests that once cryptocurrencies like Bitcoin and Ethereum show a consistent
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