Short-Term Bitcoin Rally Loses Steam, Uncertainty To Dominate Price Action?

Short-Term Bitcoin Rally Loses Steam, Uncertainty To Dominate Price Action?
Bitcoin (BTC) is back to its range after a failed attempt to reclaim previously lost territory, with a likelihood of seeing further losses. The crypto market has seen a weak price action in 2023, but BTC has been notably more fragile than other digital assets.  Related Reading: Research Firm Issues Warning For Bitcoin And ETH Investors Over DCG Situation As of this writing, Bitcoin trades at $16,800 with sideways movement in the last 24 hours. In the previous seven days, BTC records 1% in profits. Over the same period, Ethereum (ETH), Cardano (ADA), Litecoin (LTC), and others have seen gains north of 6% and 12%. Bitcoin Investors Hedge Their Positions? As price stalls in the Bitcoin spot market, the derivatives sector might provide more clues about price expectations. According to a recent report from crypto exchange Deribit, expectations of a spike in Volatility due to the New Year decreased.  The report claims that market participants have been “hesitant” to jump into the current price action due to ambiguity around macroeconomic conditions. In addition, the crisis between Gemini and the Digital Currency Group ..

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