$BTC price action impresses with a seven-day winning streak, but major resistance hinders Bitcoin bulls. 🤔 What's next?…
$BTC price action impresses with a seven-day winning streak, but major resistance hinders Bitcoin bulls. 🤔 What's next? Here are 5 key considerations for Bitcoin this week.👇
1️⃣ Bitcoin aims for $50K resistance: Last week closed at $48,315, the highest since mid-December ’21, with gains of nearly 13.5%.
2️⃣ Profitability data warns of a potential top: Caution is advised as BTC nears $50K, citing on-chain data.
3️⃣ CPI week ahead: U.S. macro data includes January’s CPI and PPI prints, influencing inflation & Fed’s policy. Short-term CPI releases can trigger temporary volatility.
4️⃣ Mining difficulty hits new highs: Bitcoin mining difficulty to rise by 6% on Feb. 15, reaching all-time highs.
5️⃣ Crypto “greed” vs. retail absence: Investor greed similar to 2021 highs, with rotation into altcoins. Retail interest in Bitcoin remains low. Is FOMO imminent?
