Downward Pressure on Bitcoin Price is "Exhausted"
Downward pressure on Bitcoin and the broader cryptocurrency market is "running out," according to a report Analysts said, "We believe that many of the technical factors that have contributed to the downward performance of cryptocurrencies have begun to run out of steam, which could give way to a more supportive trading environment in the coming weeks. " The report added that net inflows into the US spot Bitcoin ETF have averaged more than $200 million per day over the past week, bringing the total net inflows since 11 January to $1.46 billion, and macro factors are expected to become more relevant to the digital asset class in the coming weeks, which could support crypto market performance.
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