Shamii
07/08 06:48
While Bitcoin [BTC] tested the $109.6k resistance zone once again on Monday, 07 July, it faced a rejection. Within 16 hours, the price dipped by 1.4%. Last week, the $110k resistance zone had been tested unsuccessfully, bringing the price down 2.77% to $107.4k. The price action in the short term indicated consolidation and a spring coiling before the next move.
Bitcoin remaining above the $100k-mark should fill investors with confidence. And yet, questions around its broader adoption remain relevant. In fact, CIO of Miller Value Partners commented on Bitcoin’s popularity amongst institutional investors recently. He noted that it’s all a game of risk management for TradFi.
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