Market analysts stated that the price of Bitcoin (BTC) is neither bullish nor bearish and made explanations about the reasons.
Bitcoin 9-11 October lived between 5% around your fall then the end for 2 days horizontal continues its course. 27 thousand dollars located slightly below Bitcoin Market analysts who comment on the current situation for the price are currently decreasing or increasing. construction He said it was in the process.
Beam CEO made a statement on the subject: Andy Brombergto Bitcoin New investor inflow and outflow is low While pointing out the calmness in the price, this is a part of the process. “construction phase” He emphasized that:
Bitcoin has been in a building phase that has been neither bullish nor bearish lately. Currently, there is an equilibrium in which there are few new entrants into Bitcoin and equally few exits. This balance creates a relatively stable price. A significant move is unlikely to occur until some sort of catalyst occurs, such as a halving or the launch of spot ETFs.
the end that happened 5% drop, Palestinian-Israeli war and the accompanying macroeconomic uncertainties, investors’ risk in their products It was seen that he reduced his positions. On the other hand, the review process of spot Bitcoin exchange traded fund (ETF) applications made to the US Securities and Exchange Commission (SEC) for Bitcoin continues and a possible spot Bitcoin ETF It is thought that its approval will trigger a serious rise.
While all these factors continue to create uncertainty on the price, Bitcoin consolidated It moves inside a structure.
According to CoinGecko data, in the last 24 hours 0.1% rise Bitcoin exhibiting, at the time of writing from $26,835 finds buyers.