Cathie Wood and Ark Invest sell Coinbase stock – While Coinbase’s price is up 140% since the start of the year, the fund Ark Invest has decided to sell 135,000 shares. The day after the revelation of the inflation figures, the bitcoin price did not take the opportunity to mark a new high in 2023. The price continues to oscillate above $30,000.
Bitcoin price drops 1% in 24 hours
BTC could have take advantage of lower inflation in the United States to go back up. Finally, it is the sellers who regain control, and the bitcoin price 1% drop in 24 hours :
However, the course globally stagnant for several weeks. In one month, the price shows a increase of nearly 17%. The BTC/ETH pair stagnates in 24 hoursbut it climbs almost 2% in one week.
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Investors are not turning away from Bitcoin
The recent bitcoin ETF applications filed by funds such as Blackrock, Invesco or Ark Invest, have made it possible to submit the light on cryptocurrencies and more particularly on Bitcoin. Since the initial Bitcoin ETF filings with the SEC, investors flock to the king of cryptocurrencies :
it’s about the third consecutive week that financial products on cryptocurrencies are experiencing inflows. In the space of three weeks, Coinshares registers a total of $470 million in admissionswhich completely compensates for the withdrawals made for nine weeks. Also, we notice that investors continue to turn to Bitcoin. For the moment, the altcoins are totally neglected by market operators.
Bitcoin price drops below support at $30,500
While BTC had the option of relying on the bracket at $30,500 to return to the level of resistance at $31,500the sellers took the opportunity to show themselves:
The price goes back under the $30,500 leveland if the sellers push, the price could go back to the level of the bracket at $29,800. Whatever happens, buyers should defend this support to avoid score a local top here. In the event of a top, the price would initially return to the level of the bracket at $28,500. The RSI does not confirm at this time. He’s back at the level of the bearish trendline. We should keep the last dip at 34 and continue to mark ascending lows and highs as it expands above 65.
A few weeks after the first requests for Bitcoin ETFs made by certain funds such as Blackrock or Ark Invest, investors are still present. THE BTC attracts capital and altcoins remain neglected for the moment. The price has fallen below the support at $30,500, a return to $29,800 is possible if the sellers hold their hand.
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