Bitcoin’s pullback finds support near $79,000
Bitcoin extended its pullback on Wednesday, slipping below the $80,000 level. However, analysts remain optimistic about its prospects in the near term.
Several major altcoins, including ETH, are facing selling pressure, indicating that bears remain active. A BTC whale is short 1,000 BTC, worth roughly $81 million, with 3x leverage.
Arthur Hayes, Maelstrom chief investment officer, expects BTC to pick up momentum after breaking above $90,000, with a bullish projection of retaking $126,000.