0205 GMT - Bitcoin falls in Asian trading, down 0.4% at $64,124,92. Prices remain range-bound despite a modest rebound over the past week, Glassnode Research analyst Chris Beamish says. Trading activity continues to slow, suggesting limited liquidity and a lack of sellers willing to make big bets on bitcoin, he says. Demand from institutional investors is also soft, with trading in bitcoin ETFs falling alongside net capital outflows, leaving regulated investors sitting on only small paper gains. Overall, bitcoin remains caught between continued short-term selling pressure and relatively resilient longer-term positioning, he adds.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments