Analysts warn of ‘institutional exhaustion’ with Bitcoin price clinging to $32K By Cointelegraph


Analysts warn of ‘institutional exhaustion’ with Bitcoin price clinging to $32K

The price of (BTC) recovered in the past two days after dropping to as low as $28,850. Following the swift rebound, however, BTC has been unable to break past heavy resistance at $33,000 on Jan. 23, pulling back below $32,000 at the time of writing.

1-hour price chart (Coinbase). Source: TradingView.com

Earlier, when the price of Bitcoin started to drop below $32,000, BTC traded much lower on Coinbase than on Binance.

BTC/USD (white) vs. Coinbase premium Index (blue). Source: CryptoQuant
Bitcoin loses strength in U.S. period. Source: QCP Capital