Binance News
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Bitcoin Struggles to Recover Amid Market Fatigue
According to Odaily, Bitcoin is facing challenges in achieving a meaningful recovery following last month's sharp decline, as signs of fatigue persist in the cryptocurrency market. On Monday, Bitcoin briefly surpassed $107,000 before falling below $105,000, highlighting the fragile sentiment after a widespread sell-off that erased billions in market value. This downturn is partly attributed to large holders taking profits near this year's highs and lingering unease following early October liquidations.
Funds flowing into exchange-traded funds (ETFs) show little enthusiasm. On Monday, despite stock and credit markets rising after Washington's actions to end the government shutdown, U.S.-listed Bitcoin ETFs attracted only $1 million in net inflows. From a technical perspective, Bitcoin remains below its 200-day moving average, currently around $110,000, which analysts view as a critical threshold for any sustained upward movement.
Funds flowing into exchange-traded funds (ETFs) show little enthusiasm. On Monday, despite stock and credit markets rising after Washington's actions to end the government shutdown, U.S.-listed Bitcoin ETFs attracted only $1 million in net inflows. From a technical perspective, Bitcoin remains below its 200-day moving average, currently around $110,000, which analysts view as a critical threshold for any sustained upward movement.
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