$BTC RECLAIMS $84K! BUT IS THE RECOVERY STRONG ENOUGH?
BTC has climbed back above $84,000 after last week's sharp correction pushed the price close to $80,000. Falling oil prices and improved market sentiment are helping the recovery, but I’m not convinced that the worst is behind us yet. #BitcoinReclaims$84K
There’s one major concern: US spot Bitcoin ETFs recorded around $681 million in weekly net outflows, the largest weekly withdrawals since June.
In my opinion, $85,000 is the next key level to watch. A clean breakout could open the door toward $86,500 $87,000 and bring some confidence back to the market. However, another rejection could send BTC toward $82,000 or even $80,000 again.
The recovery is promising, but I want to see stronger buying pressure before calling this a real trend reversal. Volatility is still here!
BTC has climbed back above $84,000 after last week's sharp correction pushed the price close to $80,000. Falling oil prices and improved market sentiment are helping the recovery, but I’m not convinced that the worst is behind us yet. #BitcoinReclaims$84K
There’s one major concern: US spot Bitcoin ETFs recorded around $681 million in weekly net outflows, the largest weekly withdrawals since June.
In my opinion, $85,000 is the next key level to watch. A clean breakout could open the door toward $86,500 $87,000 and bring some confidence back to the market. However, another rejection could send BTC toward $82,000 or even $80,000 again.
The recovery is promising, but I want to see stronger buying pressure before calling this a real trend reversal. Volatility is still here!