Investors who sold BTC above $30,000 on the way to all-time highs are now buying back in, Ecoinometrics reveals.
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Investors who sold BTC above $30,000 on the way to all-time highs are now buying back in, Ecoinometrics reveals.
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The second-largest cryptocurrency sells off in line with Bitcoin as traders assess the latest U.S. inflation data.
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The latest bearish streak sees $32,600 come and go, with selling pressure in evidence as BTC/USD sheds another 2.7%.
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Bitcoin moved inversely to the dollar at the beginning of this week as traders awaited the June CPI report due Tuesday.
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Sophisticated investors appear to be spreading their risk across the crypto sector, with multi-asset products beating out BTC and ETH by inflows.
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Bitcoin price is drifting lower, pulling altcoins to critical support levels and testing the resolve of traders who were looking for a bullish reversal.
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It may even be boring for traders right now, but Bitcoin is preparing a rare event which will shake up price action definitively, argues trader John Wick.
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