3 reasons Bitcoin struggles to overcome each new overhead resistance level
Bitcoin’s momentum loss continues as long-term holders add to market selling pressure, and rising US dollar strength leads investors to reduce their exposure to risk.
Key takeaways:
Dormant Bitcoin holders moving large sums to exchanges raises concerns about long-term confidence amid growing concerns about the potential impact of quantum computing.
Strong inflows into Bitcoin ETFs failed to lift sentiment, with traders instead rotating toward fast-rising privacy coins, such as ZEC and DCR.