Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Bloomberg: Bitcoin rebound hindered, weak buyers drag down the pump momentum

robot
Abstract generation in progress

On November 11, Bloomberg reported that Bitcoin is struggling to seek a valid rebound after last month's decline, but the crypto market as a whole shows signs of fatigue. Bitcoin briefly broke above $107,000 on Monday before retreating back below $105,000, highlighting that market sentiment remains weak after a widespread dumping that evaporated billions in market capitalization. This drop is partly attributed to large holders taking profits near this year's highs and the ongoing unease following the liquidation events in early October. The inflow of funds into trading platform ETFs also shows little enthusiasm. On Monday, despite the stock and credit markets rising after Washington took action to end the government shutdown, Bitcoin ETFs listed in the U.S. only attracted a net inflow of $1 million. From a technical perspective, Bitcoin remains pinned below its 200-day MA, currently around $110,000—analysts consider this a key threshold for any sustained pump.

BTC-1.71%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)