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Is BTC price about to retest $20K? 5 things to know in Bitcoin this week

Published 02/06/2023, 03:39 AM
Updated 02/06/2023, 05:40 AM
© Reuters

Bitcoin (BTC) starts the second week of February in a newly bearish mood as multimonth highs fail to hold.

In what may yet bring vindication to those predicting a major BTC price come down, BTC/USD is back under $23,000 and making lower lows on hourly timeframes.

BTC/USD annotated chart. Source: Rekt Capital/ Twitter
BTC/USD 1-day candle chart (Bitstamp). Source: TradingView
U.S. Consumer Price Index (CPI) chart. Source: Bureau of Labor Statistics
Bitcoin miner net position change chart. Source: Glassnode
Bitcoin Puell Multiple annotated chart. Source: Philip Swift/ Twitter
Bitcoin NVT signal chart. Source: Glassnode/ Twitter
Bitcoin dynamic range NVT ratio chart. Source: Charles Edwards/ Twitter
Bitcoin wallet addresses vs. BTC/USD annotated chart. Source: Santiment/ Twitter
Crypto Fear & Greed Index (screenshot). Source: Alternative.me

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