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Bitcoin Reversing From Bull Channel Highs
The breakout move in Bitcoin ran as far as the bull channel highs yesterday, piercing the $120k before heavy selling pressure kicked in. BTC futures are now down more than 5% from yesterday’s highs. The sell off is being linked to profit taking on the initial breakout move as we tested the $120k level. However, from a macro perspective, traders are also highlighting uncertainty around incoming US tariffs and threats of fresh US sanctions on Russia. Strategy Buys More BTC Despite the downturn from those new all-time highs, bullish sentiment remains strong. News came this week of a further large-scale purchases from ... (full story)
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