Bitcoin’s rally may reverse as its price has hit a historic resistance level and traders appear to already be taking profits, said CryptoQuant in a note on Wednesday. Bitcoin is at risk of falling into a downtrend after its price hit a key historical “major bear market resistance level” based on its 200-day moving average,…
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Bitcoin has fallen 10% so far this month, but analysts say it has dropped between 25% and 30% in January in past post-halving markets. A major Bitcoin correction in the first month of a year after the blockchain sees a halving is historically not unusual, according to analysts who have compared previous cycles. “Bitcoin dumping…
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