Bitcoin’s price cooled at $41,800, down 4% this week and on track to snap the first eight-week streak of gains since 2017.
Investors moved a net $860 million of BTC to exchanges, signaling profit-taking, IntoTheBlock noted.
BTC to hit $75,000 early 2024 as U.S. spot bitcoin ETF approval and halving narratives combine, WOO Network predicted.
Bitcoin’s (BTC) rally stalled, putting it on track to snap a historic eight-week streak of gains as its price remained muted at around $42,000 as of Friday.
The largest cryptocurrency by market cap recovered to $43,000 after Monday’s 10% flash crash to $40,000 that flushed overenthusiastic leveraged bets on higher prices. A dovish Federal Reserve projecting rate cuts and the falling U.S. dollar bolstered the recovery, but lost steam by Friday and BTC slipped back to $41,500.