🚨 Has BlackRock’s IBIT fund become a major obstacle to Bitcoin’s rise?
After being one of the market’s biggest positive drivers, the data suggests that the IBIT fund is now creating a noticeable sell-side pressure. According to Farside data, any sell wave from the fund is quickly reflected in price movement and increases downside pressure.
The current picture puts buyers to an important test, as breaking through this barrier could be the key to regaining momentum and paving the way for a new upward surge.
📊 So will the bulls succeed in absorbing this pressure and taking control back, or will sellers remain dominant over the coming period?
#Bitcoin #BTC #BlackRock
#IBIT #cryptouniverseofficial
$KAITO
After being one of the market’s biggest positive drivers, the data suggests that the IBIT fund is now creating a noticeable sell-side pressure. According to Farside data, any sell wave from the fund is quickly reflected in price movement and increases downside pressure.
The current picture puts buyers to an important test, as breaking through this barrier could be the key to regaining momentum and paving the way for a new upward surge.
📊 So will the bulls succeed in absorbing this pressure and taking control back, or will sellers remain dominant over the coming period?
#Bitcoin #BTC #BlackRock
#IBIT #cryptouniverseofficial
$KAITO