Why Bitcoin price can't break $85,000 despite a fresh recovery
Market / Price
Bitcoin, Ethereum and XRP showed signs of recovery on Monday after a turbulent week marked by persistent US inflation and withdrawals from crypto investment funds. Bitcoin traded around $82,647 at the time of this report, extending its rebound from the 50-day Exponential Moving Average at $80,607. Ethereum and XRP were also attempting to stabilize around key support levels following bearish weekly closes. The recovery faces challenging resistance. Inflation concerns have increased uncertainty about Federal Reserve policy, while ETF redemptions indicate subdued demand through regulated investment products. For Bitcoin, the immediate test is whether buyers can turn the rebound into a sustained move above nearby resistance.
BTC
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