Bitcoin takes a breather after adding 23% in 7 days as ETF demand holds steady
4 Articles
4 Articles
The price of Bitcoin is consolidating in the $79,000 range, failing to break the $80,000 mark. This is attributed to profit-taking selling pressure following the recent sharp rise and weakened expectations for a U.S. Federal Reserve interest rate cut after U.S. inflation data came back higher than market forecasts. According to CoinMarketCap, a virtual asset market data site, as of 8:50 AM on the 27th, 1 Bitcoin
According to ChainCatcher, Bitcoin prices have retreated after a 23% surge in the past seven days, currently hovering around $79,000, down about 1.2% in the past 24 hours. The broader CoinDesk 20 index has fallen 2.1% in the past 24 hours. Alternative.me's Crypto Fear & Greed index rose from 27 to 74 in less than two weeks before retreating. However, underlying demand remains strong. According to SoSoValue data, US-listed spot Bitcoin ETFs recor…
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