Where Will BTC Go This Week?

Currently, the price of Bitcoin (BTC) is trading around 92,467 USD, down about 2.51% compared to the previous session.

According to technical analysis from TradingView, the oscillators and moving averages are giving a strong 'Sell' signal, indicating that the downward trend is prevailing.

On the Bitfinex exchange, signals from the moving averages and chart indicators also agree with the 'Strong Sell' trend.

Additionally, according to reports from Currency Forecast, Bitcoin has dropped to 94,000 USD after the U.S. Federal Reserve (Fed) signaled a tightening of monetary policy and the U.S. Department of Justice (DOJ) received orders to sell more than 6.5 billion USD of seized Bitcoin, putting downward pressure on the market.

However, Bitcoin 'whales' have accumulated an additional 34,000 BTC since the sell-off in December, indicating that some large investors still believe in the long-term potential of this currency.

Overall, current technical indicators show a bearish trend for Bitcoin, but accumulation from large investors could create buying pressure in the future.

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