Despite the sizable gains we see at the end of Thursday's session in stock markets, the cryptocurrency sector is lagging behind and seeing relatively large sell-offs. The market's loud expectations of widespread adoption of BTC in the US and perhaps even elevating it to the status of a reserve currency are quieting for the moment, causing some long-term investors to choose to take profits in the $100,000 zone.
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Create account Try a demo Download mobile app Download mobile appSpot ETF funds on Bitcoin yesterday recorded the largest net outflow of funds since the end of January, worth $267 million. Source: XTB
Bitcoin has been below the 50-day EMA for an extended period of time, which was a 3-time major support point for the cryptocurrency in December 2024. Maintaining BTC's quotations for an extended period of time may cause selling pressure to intensify. The 1:1 structure against the December sell-offs indicates a range of movement reaching the $90,000 barrier. On the other hand, the nearest important resistance point in case of increases may be the $98,000 barrier, where the upper limit of the consolidation zone ran. Source: xStation
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