Bitcoin is in Bear Territory
Bitcoin’s price dropped below $10,000 Friday, sliding as low as $9,894 on spot exchanges such as Coinbase. “It’s not the best look for BTC from a momentum and positive volume standpoint, to be honest,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital.
David Lifchitz, chief investment officer for crypto quantitative firm ExoAlpha, says traders are taking profit after bitcoin could not get past $12,100. It may seem like a long time ago but the price went as high as $12,058 only Tuesday.
“It looks like some bitcoin holders decided that this last failed breakout was one too many,” he told CoinDesk. “A full move could potentially bring the price back toward $9,500.
David Lifchitz, chief investment officer for crypto quantitative firm ExoAlpha, says traders are taking profit after bitcoin could not get past $12,100. It may seem like a long time ago but the price went as high as $12,058 only Tuesday.
“It looks like some bitcoin holders decided that this last failed breakout was one too many,” he told CoinDesk. “A full move could potentially bring the price back toward $9,500.
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