Bitcoin Tumbles Below $60K, Ether Under $3K; Correction Not Over, Says Strategist
Large bitcoin investors haven’t started to buy the dip yet, suggesting that the correction may continue for a while, an LMAX Group strategist noted.
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Large bitcoin investors haven’t started to buy the dip yet, suggesting that the correction may continue for a while, an LMAX Group strategist noted.
The initial euphoria for the spot bitcoin ETFs has seemingly dampened and reality is slowly kicking in with inflows recently unable to keep up with the still speedy pace of exits from Grayscale’s Bitcoin Trust (GBTC).
Investors may expect market weakness due to the tax season, Ryze Labs said in a report.
Major U.S. equity indices closed the day lower as faster CPI reading for March, will BTC was up 1%.
Contrasting Bitcoin derivatives with Ethereum’s tells us a story around the potential opportunity for a post-halving rotation.
Bitcoin is showing resilience despite the slip, but the corrective period might continue for a while before a return to growth, one observer noted.
U.S.-listed spot bitcoin ETFs saw over $830 million of outflows so far this week, and are poised for the first negative week since late January.
The market might take a breather this weekend, says Singapore’s QCP Capital.
Bitcoin needs to reclaim the $69,000 level to reignite its uptrend, one trader noted.
Bernstein boosts bitcoin year-end price target ( Hans Eiskonen/Unsplash)