Bitcoin bulls are encountering resistance at $113,600, as on-chain data suggests selling pressure. The recent price of BTC bounced back to $112,800 after dipping below $108,800.
Investors at a loss tend to sell during rebounds, which could hinder BTC’s recovery. Current market activity reflects mixed signals, but ETF inflows present bullish potential.
Key support for BTC is at $107,000. Analysis shows that breaching this level could lead to increased selling, triggering further downward momentum.
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