Can Bitcoin Price Bounce Back? Here are the Top Factors to Watch Now
The post Can Bitcoin Price Bounce Back? Here are the Top Factors to Watch Now appeared com. Key Insights Bitcoin price today was up around 2% but struggled to break through the $85,000 level. The US Spot Bitcoin ETF saw around $240 million entering into the investment instrument. Analyst predicts a potential recovery to $103,000 for the price of Bitcoin, before another brutal crash. The traders are keeping close track of the Bitcoin price today, especially after the flagship crypto fell below the $81,000 mark yesterday. Notably, the price of Bitcoin has since struggled to hold above the $85,000 level, which has spooked traders over the potential future movement of the asset. The dip in BTC price yesterday has also triggered a massive selling pressure across the broader crypto market, with most of the top altcoins recording double-digit percentage losses. However, despite that, some experts have remained bullish on a potential recovery in the asset. Meanwhile, this optimism was further bolstered by the positive fund flow into the US Spot Bitcoin ETF. This suggests renewed interest among institutions, especially after the investment instrument saw its second-highest single-day outflow on November 20. Bitcoin Price Today: Bitcoin ETF Helps in Recovery Bitcoin price today was up over 2% to $84,156 at the time of writing, but its trading volume fell more than 29% to $89 billion. Notably, BTC price has touched a 24-hour low of $80,659 and a high of $85,503 in the last 24 hours, which has spooked traders. Although the crypto has struggled to break through the $85k mark now, the renewed interest of the institutions has fueled market sentiment. For context, the US Spot Bitcoin ETF has reversed its course and saw $238. 4 million entering on November 21. This follows an outflow of $903. 2 million on November 20, which has spooked traders. However, on Friday, BlackRock’s IBIT witnessed an outflow of $122 million. Notably, BlackRock Bitcoin.
