Bitcoin (BTC) Rally Fades After Gold Pullback: Market Analysis

Gold suffered an 8% pullback on Tuesday and into early Wednesday, almost tagging support at $4,000. While gold was plummeting, the Bitcoin price rallied unexpectedly, managing to hit $114,000 before the price fell again, wiping out all the previous gains. What’s next for Bitcoin in this current volatile market? Failed rally ends up with $BTC price back where it started).

It then rose as far as the descending trendline from the all-time high, before sinking back to the channel top, falling back in, and ending up exactly back at the $108,000 horizontal ￰0￱ in all, the $BTC price rose a total of $5,500 (5%). According to Coinglass, more than $652 million in value was wiped from both the longs and the shorts over a 24hr ￰1￱ than 160,000 traders were ￰2￱ appears that the current market will just not tolerate any ￰3￱ makers may have been licking their lips with glee as traders jumped onto a Bitcoin price that had drilled through resistances with ease and that was potentially heading back to the high at a rate of ￰4￱ again it wasn’t to be, and Bitcoin traders staggered off licking their wounds for the umpteenth ￰5￱ pattern confirms for $BTC price