Bitcoin Examined: These Critical Points Are ‘Very Bad’ For BTC, Analyst Says
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Crypto Rover delves into Bitcoin's market, identifying critical support levels and setting buy orders between $56,000 and $57,000. While funding rates are neutral, mixed signals from Bitcoin ETF inflows and outflows add to market uncertainty. Predictions are conflicting, with some forecasting a rise to $80,781 by August 2024, despite the current bearish sentiment. A potential short squeeze, fueled by market liquidity, could cause Bitcoin to surge. The coming weeks will be pivotal, with the market keenly observing whether Bitcoin will dip below support or break above resistance.
Source: www.newsbtc.com ↗
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