Bitcoin’s failure to cross above $100,000 could extend the current price pullback. The real question is whether or not bulls will buy the dip.
The failure of the bulls to push Bitcoin (BTC) above $100,000 started a pullback, which is expected to find buyers at lower levels.
According to crypto tracking platform SoSoValue, United States-based spot Bitcoin exchange-traded funds (ETFs) witnessed the largest recorded inflows of $3.38 billion last week.
Another major buyer of Bitcoin was MicroStrategy, a publicly traded business intelligence and software firm, which bought 55,000 Bitcoin for $5.4 billion between Nov. 18 and Nov. 24 at an average price of $97,862. After the latest purchase, MicroStrategy’s total holdings ballooned to 386,700 Bitcoin.
