Crypto Daily – Following Bitcoin’s 6.6% dip, after the US government moved $2 billion in $BTC, the price has since stabilised, hovering around the $66,000 level. Momentum indicators are resetting, and the next upward price surge could be about to begin.
Nothing has really changed in the bullish case for Bitcoin’s next upward journey towards $100,000 and beyond. The US Spot ETFs did record a small 247 BTC outflow on Tuesday, but this is nothing compared to the $billions of inflow that have entered the ETFs over the last three weeks or so.
in channel correction
One of the other main reasons for the fall in the Bitcoin price just recently, besides the US government $2 billion BTC movement, is the ongoing correction in the traditional stock market.
Source: TradingView
The QQQ is the ETF for the Nasdaq technology stock market. As can be seen in the chart above, the QQQ has been following an upward channel since the very beginning of this year. Three…
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