Time called on Bitcoins post US election rally?
Bitcoin trades lower at $97,400 (-3.76%) as more signs emerge that investors have called time on its one-month post-US election rally.
As noted yesterday, the modest gains that followed Trump's appointments of the pro-crypto Paul Atkins as SEC head and David Sacks as his "AI and Crypto Czar" were warning signs the rally was faltering.
As was the volatility viewed on Friday morning when Bitcoin hit an air pocket falling from over 100k to a low of $92,092. All of this reinforces the idea that BTC is likely entering a consolidation phase in the days/weeks ahead.
As noted yesterday, the modest gains that followed Trump's appointments of the pro-crypto Paul Atkins as SEC head and David Sacks as his "AI and Crypto Czar" were warning signs the rally was faltering.
As was the volatility viewed on Friday morning when Bitcoin hit an air pocket falling from over 100k to a low of $92,092. All of this reinforces the idea that BTC is likely entering a consolidation phase in the days/weeks ahead.
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