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BTC/USD: Bullish Outlook Despite Ongoing Weakness
Bitcoin price remained under pressure this week as ETF outflows continue and trade risks remain. The BTC/USD pair was trading at 113,800 on Wednesday, down sharply from the all-time high of 123,192. Recent data indicate that demand for Bitcoin among investors is softening. For example, data shows that spot Bitcoin ETFs had over $643 million in outflows last week, ending a seven-week streak. These funds have shed over $300 million in assets this week. The BTC/USD pair drop mirrored that of the stock market as traders reacted to the weakening services PMI and sticky prices. The blue-chip Nasdaq 100 Index dropped by 189 ... (full story)
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