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Bitcoin Weekly Forecast: BTC extends correction amid weakening momentum, ETFs outflow
Bitcoin (BTC) is slipping below the lower consolidation band at $116,000, after consolidating for more than ten days. A decisive close below this level would indicate further decline ahead. US-listed spot Bitcoin Exchange Traded Funds (ETFs) also supported this bearish thesis, recording a mild weekly outflow of $58.64 million until Thursday. Adding to the bearish outlook, technical indicators also signal a weakening in momentum, which raises the risk of a short-term correction. SoSoValue data shows that US spot Bitcoin ETFs have recorded a mild weekly outflow of $58.64 million so far this week, breaking the six-week ... (full story)
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