Hey crypto community,
BTCUSDT continues to face pressure as the price slips below $114,000 during Thursday’s trading session. Although there was an attempt to break through the $116,000 resistance, buying power remains weak, mainly due to diminishing demand from institutional players.A clear indication of this trend is seen in the ongoing outflows from US-listed Bitcoin ETFs – on Tuesday alone, $196 million was withdrawn, extending the losing streak to four consecutive days.
However, there’s a glimmer of hope from Asia: SBI Holdings in Japan has recently filed for approval of a dual-asset ETF that includes both BTC and XRP. This could be a sign of a fresh wave coming from the East.
On the chart, if BTC fails to reclaim the $114k – $116k range soon, further downside potential remains. But keep in mind, deep corrections often provide an opportunity for large players to accumulate.
👉 What do you think about this correction? Will BTC hold its ground against selling pressure? Let me know your thoughts!
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