3 the explanation why Bitcoin is struggling to rally above $28.5K

On Oct. 2, the worth of (BTC) noticed a 5.5% intraday improve to $28,600, however the largest cryptocurrency by market capitalization misplaced momentum because the extremely anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) didn’t generate vital buying and selling volumes.

Whereas the latest rally into the higher finish of the present value vary was possible encouraging to traders, latest feedback from United States Federal Reserve representatives reiterated issues about an impending financial downturn.

Bitcoin buying and selling metrics present diminished exercise for leverage longs

Traders’ expectation for a spot BTC ETF drops

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