Bitcoin (BTC) is facing stiff resistance around $110,000, its previous all-time high, as fears of a deeper correction intensify. The inflow of $3.2 billion worth of BTC into exchanges adds tailwind to the ongoing uptrend. A look at Bitcoin’s technical analysis reveals that a breakdown below $107K to $108K could trigger a crash toward $102K, while a surprise bullish catalyst, such as corporate Bitcoin adoption, could catalyze a push to record highs. Why BTC Price is Stalling Bitcoin trades at $108,500 today, down 1.1% in the past 24 hours. The price has been range-bound between $108K and $111K for six consecutive days, reflecting weakening bullish momentum. Bitcoin Price Today: BTC/USDT 1-hour Chart Key Reasons for the Stall: CoinGape reported on Tuesday how BTC price is stalling despite OTC balances depleting by $40.8B, hinting at a potential drop. This article further expands on why Bitcoin is stuck under $110K. Lack of… Read More at Coingape.com
The post Bitcoin Crash Fears Escalate as BTC Price Stalls Under $110K Amid $3.2B BTC Inflow appeared first on CoinGape.
