Bitcoin Clinging On To Its $1 Trillion Market Cap: Is $55K Or $45K Next?
Published by
Benzinga
Benzinga
After a month-long rally, Bitcoin (CRYPTO: BTC) prices are stalling and even under some sell pressure. Traders are debating in which direction Bitcoin will break out from its range. What Happened: Bitcoin prices are down 1.5% on the day, currently trading at $51,100. The weekly loss of 1.7% contrasts with previous week’s 10% gain, with Bitcoin hovering just around the $1 trillion market cap mark. According to JPMorgan research, as reported by CoinDesk, the Bitcoin ETF price-to-flow correlation stands at 0.60 as of Feb. 21, 2024, compared to 0.78 on Feb. 7 and 0.84 on Jan. 31. A figure above 0….