Peter Brandt described Bitcoin’s price movement as repetitive and uninspiring, with BTC fluctuating between 75,000 USD and 88,000 USD without breaking the 90,000 USD ceiling. This pattern indicates a bearish sentiment due to a descending triangle formation on the chart.
Investor confidence in Bitcoin is waning, especially since it couldn’t surpass the critical 100,000 USD mark. As of now, BTC is trading at 84,420.20 USD, showing a 0.17% decrease and lower trading volume, which further raises caution among market participants.
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