Bitcoin short-term holders panic after BTC price drops toward $40,000, and traders warn that worse may be to come.
Bitcoin (BTC) heads into week three of January still holding $40,000 after a wildly volatile start to the year, but where will the BTC price go next?
Following the debut of the first spot Bitcoin exchange-traded funds (ETFs) in the United States, price action has never been the same. Snap moves both up and down have surprised both long and short BTC traders, and the liquidation tally tells the tale.
As a new week begins, Bitcoin faces two narratives at once: some believe the dip that came after the ETF launch will mark a healthy support retest, while others see the preceding local top as staying put for a long time.
