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 US Crude Oil Holds Strong Above $80 Despite Mixed Data READ MORE Inflation Fears Spark Rally in Gold and Oil, Casting Doubt on Fed's Strategy READ MORE Young Borrowers Struggle as Credit Card Debt Hits 14-Year High READ MORE Fund Managers Shy Away from Gold Despite Record Prices READ MORE Ray Dalio Advocates for Gold in the Face of Looming Debt and Inflation Threats READ MORE Add a Comment Cancel replyYour email address will not be published.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