Bitcoin has experienced a decline
Bitcoin has experienced a decline of approximately 8% in its value during the past week. However, there has been an encouraging sign as the bulls have aggressively bought the weekly lows. Despite this, analysts remain divided about the direction of the cryptocurrency’s movement, with some expecting a further correction while others anticipating a continuation of the uptrend.
Meanwhile, the performance of Bitcoin’s
Meanwhile, the performance of Bitcoin’s price has affected the United States spot Bitcoin exchange-traded funds (ETFs), with data showing outflows of approximately $617.9 million on December 19th and $277 million on December 20th from these ETFs, suggesting profit booking by traders. As for the broader crypto market, the next few days are likely to see a tough battle between the bulls and the bears near the $100,000 level.
If Bitcoin manages to stay
If Bitcoin manages to stay above this mark, it could improve the overall sentiment in the crypto space and potentially pull select altcoins higher. However, a failure to rise and maintain above $100,000 could lead to a sell-off in these altcoins due to profit-taking by short-term buyers. Let’s take a closer look at the performance of the top five cryptocurrencies that may outperform in the near term.
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