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Key takeaways
- Bitcoin recovers slightly on Wednesday after finding support below $80,000.
- US-listed spot ETF saw outflows of $233 million on Tuesday,
Bitcoin finds support at a key level
Bitcoin (BTC) has slightly rebounded and is currently trading above $81,000 on Wednesday, following a retest of a critical technical support level the previous day.
The price surge is attributed to a recent correction and support found near the psychological $80,000 mark. As market participants await the Senate Banking Committee’s vote on the Clarity Act on Thursday, there are early indications that this could be a near-term catalyst for Bitcoin’s future price action.
Institutional demand appears to be showing some caution this week. Spot BTC Exchange-Traded Funds (ETFs) recorded a notable outflow of $233.25 million on Tuesday, after a modest inflow of $27.29 million the previous day, according to CoinGlass data.
If these outflows persist or intensify in the coming days, Bitcoin may exper...
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