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Have we reached the bitcoin bottom yet? Many experts don’t think so.
Bitcoin has been stuck in the mid- to low $60,000s for the past 10 days, struggling to break above $70,000. Macro-driven factors, uncertainty around the Federal Reserve’s rate path, and flaring geopolitical tensions are all putting pressure on the asset’s price, and long-term effects from the October 10 liquidation event continue to weigh on bitcoin (-0.98%), which is down nearly 50% from its October 6 all-time high. So far this month, bitcoin ETFs have seen $916 million in outflows, and if February closes in the red, it would mark the fourth consecutive month of outflows, according to SoSoValue. Investors are ... (full story)
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