Bitcoin’s Post-ETF Slump Pauses as Charts Signal Pivotal Test
- Technical analysis points to a support level around $37,000
- Token lost about 20% after US ETFs began trading Jan. 11
This article is for subscribers only.
Bitcoin paused a retreat that began after US exchange-traded funds for the largest digital asset began trading on Jan. 11 and now faces a pivotal test if key charts are right.
The token rose as much as 3.4% on Wednesday before paring some of the gain to trade at $40,180 as of 6:55 a.m. in New York. It’s down almost 20% from an intraday peak of $49,021 when the ETFs went live, as fanfare about the products gives way to uncertainty over the eventual scale of demand for them.