Bitcoin briefly dipped below $100,000 after hawkish comments from the US Federal Reserve, with an analyst suggesting its price is forming a bearish pattern on the week.
Bitcoin reclaimed the key $100,000 psychological level shortly after it slipped below six figures, giving one crypto analyst reason for a short-term bearish view, while others dismissed the dip as routine.
“Bitcoin is developing a bearish engulfing weekly candlestick formation,” pseudonymous crypto trader Rekt Capital told their 518,900 X followers in a Dec. 19 post.
Rekt said there are still a few days until the end of the week to “fully confirm” the downtrend, and “lots can change” in the meantime.
