★Traders say Bitcoin still due for ‘next leg lower’ targeting $46K BTC price
"Persistent technical weakness, evidenced by a weekly close below the 200-week MA, signals potential for further capital outflows and a re-evaluation of Bitcoin's short-term support levels. A sustained move towards $46,000 would likely trigger additional deleveraging across the crypto ecosystem, impacting broader market liquidity and risk appetite among institutional participants. This downward pressure could also influence derivative market positioning and asset allocation strategies."
The Big Coin Report Take
Another week, another technical indicator suggesting Bitcoin might continue its downward trajectory. Market participants are now bracing for the next leg lower, as if the last few weren't enough. It appears the digital gold standard still has some polishing left to do.
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