CandleFocus Bitcoin’s Exchange Transactions Hit Record Lows—What This Means For BTC’s Price
2024-12-20
Author: Content Editor
Bitcoin's price has been volatile recently, dropping below $99,000 after the Federal Reserve meeting but rebounding to around $100,573. The decline in transaction volumes on exchanges suggests reduced trading activity and potential consolidation or reduced volatility in the near term. However, there is a significant demand zone forming just below the $100,000 mark, which could serve as a buffer against further price declines. Technical indicators show bearish momentum but also the potential for a price reversal. Traders should monitor for a breakout above $104,000 or a breakdown below $100,000 with volume confirmation to validate either scenario.
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