Bitcoin Demand Weakens, Consolidation Risk Rises
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Bitcoin's struggle below the $80,000 level reflects a notable weakening in demand, as both spot market activity and ETF inflows have tapered off. On-chain data suggests that the 'less aggressive demand' phase may persist, potentially leading to months of sideways price action. The lack of strong buying pressure leaves BTC vulnerable to further downside, with the next major support around $65,000. However, a consolidation period could also allow the market to build a stronger base for a future rally. Traders should monitor ETF flows and macroeconomic cues closely, as a break below $65,000 would signal deeper bearish momentum.
Read full article on CoinTelegraph
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