Bitcoin Funding Hits 2023 Low as $80K Resistance Forms

Bitcoin's funding rates have dipped to their lowest levels of 2023, signaling potential challenges ahead for the cryptocurrency. As BTC approaches the cost basis of short-term investors, market analysts are watching closely for a possible wave of selling. The $80,000 price point is emerging as a significant resistance level that could dictate Bitcoin's near-term trajectory. If the price fails to maintain momentum, further selling pressure may ensue from short-term whales looking to capitalize on gains. Investors are advised to remain cautious as volatility may increase in the coming days.

Crypto