Bitcoin Faces Pressure but Rebound Hopes Remain, Says Grayscale Analyst Bitcoin has experienced a significant drop of over 10% in the past week, falling from around $63,000 to just under $54,000. Despite this decline, Grayscale’s Head of Research, Zach Pandl, suggests that a rebound may still be possible. Factors influencing Bitcoin’s price include Germany’s ongoing sale of seized Bitcoin, which continues to exert downward pressure, and potential bullish catalysts such as a dovish shift from Fed Chair Jerome Powell and the anticipated debut of Ethereum ETFs. While investors have shown interest in buying the dip, pouring over $140 million into Bitcoin ETFs, the continued sell pressure from Germany’s remaining $2 billion Bitcoin stash could lead to further downside movements, potentially affecting newer Bitcoin buyers who entered at higher price points. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Debt Service Costs Threaten Sustainable Development in Developing Countries READ MORE Ukrainian Drones Strike Deep into Russia, Hitting Multiple Air Bases READ MORE New UBS Forecasts Predict Silver Prices to Hit $38 by Mid-2025 READ MORE Inflation Fears Spark Rally in Gold and Oil, Casting Doubt on Fed's Strategy READ MORE DataTrek: Silver Undervalued Relative to Gold, Cyclical Gains Expected READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment