Bitcoin decides fate of $60K as weekly close
BTC/USD is keeping traders nervous into Saturday, data from Cointelegraph Markets Pro and TradingView shows, deciding on the fate of $60,000 support.The level had proven the first major area of buyer interest overnight after old all-time highs at $64,900 failed to prop up the market.
While analysts remain bullish on longer timeframes, the comedown is creating an interesting close to the current weekly candle.Elsewhere, a popular theory revolves around a structured flushing out of overleveraged traders, these having pushed up funding rates to classic unsustainable levels during the run to $67,100 all-time highs.Front-running the United States' first Bitcoin ETF is likewise still a major topic of debate, as noted by popular Twitter account BitBit.
While analysts remain bullish on longer timeframes, the comedown is creating an interesting close to the current weekly candle.Elsewhere, a popular theory revolves around a structured flushing out of overleveraged traders, these having pushed up funding rates to classic unsustainable levels during the run to $67,100 all-time highs.Front-running the United States' first Bitcoin ETF is likewise still a major topic of debate, as noted by popular Twitter account BitBit.
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