After losing the $80,000 price mark , the price of Bitcoin has made several attempts to recover this level, but each one was capped by this resistance zone, which was once a key support. Interestingly, this continued bearish pressure is beginning to reflect on multiple crucial areas of the market, such as Spot trading. Lack Of Spot Bitcoin Buyers Extends The broader cryptocurrency market was left in awe when the Bitcoin price experienced a sharp pullback during the weekend. Even after a strong decline, the ongoing correction is showing signs of becoming more entrenched, as evidenced by weak spot trading. A glimpse into research from Darkfost, a popular market expert and author at CryptoQuant, shows that spot demand is steadily drying up. This suggests that fewer buyers are choosing to enter the market to absorb sell-side pressure, leaving BTC’s price highly vulnerable to even modest outflows. In addition to the fading spot demand , the market is set to enter into its fifth consecu...
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