Odaily Planet Daily News BTC has fallen to the 50-day MA level, and analysts believe caution is needed for future market trends.
Technical analyst Katie Stockton of Fairlead Strategies LLC wrote in a report that testing of the widely watched moving averages has shown that BTC will return to a neutral bias during the consolidation phase.
Since Trump’s election, the US ETF directly investing in Bitcoin has attracted net inflows of over 12 billion dollars, but the subscription speed has slowed down recently, with 12 ETFs seeing a net outflow of 6.8 billion dollars on December 19th.
So far this year, BTC has risen by 125%, surpassing the returns of traditional investments such as global stocks and gold. The broader cryptocurrency market index has also doubled, including ETH and Dogecoin. (Bloomberg)
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