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Analysts say Bitcoin price is in the ‘profit-taking’ zone with a ceiling at $45K

Published 02/11/2022, 08:30 PM
Updated 02/12/2022, 10:00 PM
© Reuters.

The price action for Bitcoin (BTC) continues to tantalize investors and once again, concerns over the state of the global economy and rising inflation have prompted warnings that the Fed's upcoming interest rate hikes could do more damage then good to the state of the market.

Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC has hovered near the $43,000 support level in trading on Feb. 11 after rallying 20% from the $37,000 leve over the past week.

BTC/USDT 1-day chart. Source: TradingView
BTC/USDT 4-hour chart. Source: Twitter (NYSE:TWTR)
BTC/USD 8-hour chart. Source: Delphi Digital
Monthly fund flows for select digital asset investment product groups. Source: Delphi Digital
BTC/USD 1-day chart. Source: Twitter

Continue Reading on Coin Telegraph

Latest comments

in 102 days Bitcoin has lost $22,199 and in value profits.it's clear to say we are entering taxpayers season. #bitcoinisfalling
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