🩸 Analytical Overview of Bitcoin: A State of Uncertainty!!??

🔥 Bitcoin has recently experienced a noticeable decline in its value, affected by large liquidity withdrawals and negative technical signals. The main factors pressuring the price can be summarized as follows:

1. Technical Performance: The price of Bitcoin has dropped by 2.1% to around $109,842.01, influenced by bearish signals from the MACD and EMA indicators, reflecting strong selling pressure, although the RSI indicator suggests the possibility of overbought conditions that could limit the drop in the near term.

2. Market Flows: Bitcoin Exchange-Traded Funds (ETFs) recorded net outflows exceeding $1.1 billion during the past week. Series data indicates that the pace of outflows continues, with individual withdrawals exceeding $70 million, reflecting weak investor appetite.

3. Fundamentals and Macroeconomic Environment: Although the Bitcoin network shows resilience in the long term through the strength of the hashrate, the uncertainty of the global economic landscape raises a state of uncertainty and pressures trader confidence, especially regarding the asset price in the short term.