After reaching the 38,500.00 USD level on Tuesday this week, the BTC/USD price has left the lows and is now settling above 40,000.00 USD. Since the inception of ETFs in the United States, which allow trading of the BTC/USD pair, there has been no major upward trend. The market is divided as some investors believe that Bitcoin is the future, while others prefer to remain cautious. Last week, the price of this cryptocurrency was marked by a downward trend.
Since the launch of the Bitcoin ETF in the U.S. market, the price quote has been progressively falling. Although there have been some upward fluctuations this week, they have not been significant enough to signal a strong market consolidation.
The introduction of Bitcoin ETFs has made trading the BTC/USD pair more complex, requiring additional analysis. Investors who want to sell this pair in the short term will now have more data to know when and how to trade the market. Likewise, traders looking for long-term gains can now do much more research and be better prepared to profit or lose, depending on market behavior.
BTC/USD technical analysis today, January 25.
Currently, Bitcoin is attempting to maintain its position above 40,000.00 USD, a key psychological threshold for traders. In case of a fall in the price, it could reach 38,000.00 USD. We must be attentive to what happens in the cryptocurrency market, which usually tends to be very volatile and can directly impact the price of BTC/USD.
