How Will Bitcoin Move in the Coming Weeks After Rejection at $38,000? Analysts Evaluated!
According to CoinMarketCap data, while there were minor changes in the price of the leading cryptocurrency Bitcoin, some altcoins gave back most of their rise. At this point, Solana (SOL) 7% in the last 24 hours; Cardano (ADA) 3.4%; Dogecoin (DOGE) fell by 5% and Chainlink (LINK) by 7%. In the face of these declines, BNB is currently at $259.3, while it rose by more than 8% after the news that it could pay $4 billion for the lawsuit filed against Binance. While Bitcoin and altcoins move with different dynamics, some analysts said that they expect BTC to move horizontally in the coming weeks. Speaking to Coindesk, analysts at Bitbank, Japan‘s leading exchange, said that BTC’s recent rally has faced headwinds due to increasing uncertainty regarding the FEDs next steps and delays with ETFs. Analysts led by Yukari Kusu stated that BTC should move horizontally for a while in the face of the headwinds it is facing and said: The recent rally in Bitcoin was suppressed at the psychological level of $38,000. One of the reasons why Bitcoin failed to break this level is the SEC‘s decision to postpone its decision to approve or disapprove Hasdex’s Bitcoin ETF on Thursday. One of the other reasons is the uncertainty