Bitcoin Drops Below $110,000 as Market Momentum Slows Down
Good morning! Bitcoin's price has fallen to around $109,700. According to QCP Capital, market volatility is at a 12-month low, and Bitcoin's price is stuck in a narrow range.
To get moving again, Bitcoin's price needs to break out of this range, either above $110,000 or below $100,000. Despite good news in the US stock market and gold prices, Bitcoin's price didn't change much.
Some signs show that the market is getting tired, with slower ETF investments and less interest in perpetual trading. However, over the weekend, Bitcoin's price jumped 3.3% to $108,800.
This week, US-China trade talks and a big US Treasury auction might affect the market. Right now, Bitcoin's price is at a crossroads: will it break through $110,000 or drop to $100,000? A clear move could spark new interest in the market.