$40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely
Sky high inflation, fear over the Fed’s expected rate hike and exploding commodity prices are all possible reasons for BTC’s recent dip below $40,000.
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Sky high inflation, fear over the Fed’s expected rate hike and exploding commodity prices are all possible reasons for BTC’s recent dip below $40,000.
Bitcoin‘s role as an inflation hedge is popular, with one expert stating that ”you don‘t need Bitcoin until you do.”
BTC price made a 10% move toward a key resistance level, but traders warn that the price action is just “more of the same” until $46,000 is flipped to support.
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Relief rally hopes rise as BTC price remains stuck inside the $34,000–$45,000 range.
Capital flowed into BTC funds for a seventh consecutive week, while ETH products registered their largest gain in 13 weeks.
Whales with USDT holdings of $10,000 to $10 million added $1.06 billion worth of Tether to their wallets over the past month, increasing their buying power by 7%.
Traders look for a weekend oversold bounce after BTC price sold-off and hit an intraday low at $38,750.