Bitcoin Price Prediction: ETF Sell-Off Weighs on Bitcoin Bulls; $70K Target Appears Unlikely

Quick Summary:

This situation is largely attributed to recent activities within Bitcoin Exchange-Traded Funds (ETFs).

On Tuesday, there was a significant net outflow of approximately $78 million from spot Bitcoin ETFs.

A breakout above this resistance could propel Bitcoin towards the next major resistance zone of $72,000 to $74,000.

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Article Details

Author / Journalist: Anjali Belgaumkar

Category: Crypto

Markets: United States

Topics: Crypto news News Bitcoin Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 09:18:14 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 299 words

Reading Time: 2 minutes read

Sentences: 26 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 21770887

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 19 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 11 hours ago

Coverage Areas: United States

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Publisher ID: #112

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