RATE Group | Bitcoin Could Soon Tumble Lower as Its Funding Rate Begins Flipping Positive
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Bitcoin Could Soon Tumble Lower as Its Funding Rate Begins Flipping Positive

17 Jan Bitcoin Could Soon Tumble Lower as Its Funding Rate Begins Flipping Positive

Posted at 04:40h in Bitcoin News by

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Bitcoin has begun showing some signs of topping out as the crypto inches lower from its previous consolidation region around $8,800. BTC’s move towards $8,600 has led some analysts to believe that its recent highs of $8,900 will mark a mid-term top.

One valuable indicator that often offers significant insight into future trends is now suggesting that the crypto is close to tumbling lower and retracing its recent gains, although it may still have a little room to run before this occurs.

Bitcoin Inches Lower as Bulls Lose Their Strength

At the time of writing, Bitcoin is trading down just over 1% at its current price of $8,670, which marks a notable decline from its recent highs of $8,900 that were set at the top of the recent rally.

It is important to note that the cryptocurrency’s inability to sustain within the upper-$8,000 region seems to suggest that bulls are losing strength, and unless it finds major support within the lower-to-mid $8,000 region, this recent uptrend could…

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