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Bitcoin Price Settles in $70K-$90K Range Amid Exchange Inflows
Bitcoin has shown strong performance over the past week, recovering from a previous downturn and reaching above $90,000 on November 26. This resurgence comes amid discussions of a renewed bull run, though some analysts remain cautious.
Analyst's Insights
- CryptoOnchain suggests Bitcoin might remain between $70,000 and $90,000.
- The price initially fell to around $80,000 but recovered after hitting a Point of Control (POC) near $82,000.
- Large inflows of BTC into Binance could exert downward pressure, with $2 billion worth entering in the past week.
- Net stablecoin inflow on Binance is approximately $735 million, indicating limited buying power to counteract potential selling pressure.
- A rejection from the $90,000 level and sideways movement within the $70,000 - $90,000 range is considered likely.
Current Price Status
As of now, Bitcoin is priced just above $91,000 without significant changes recently.
