📊Bitcoin Faces Decrease in Demand as American Buyers Retreat
📍In Brief
🔸The price of Bitcoin has been moving sideways since it reached its all-time high of $122,920, indicating a slowdown in market momentum.
🔸On-chain data reveals a decline in demand from American investors, with a decrease in the Coinbase Premium index and a drop in spot flows to Bitcoin-backed exchange-traded funds.
🔸Bitcoin may face further consolidation or a short-term correction, with key support at $118,851 and resistance at $122,000.