Bitcoin Is Currently Neither ‘Bullish’ or ‘Bearish,’ Traders Say

Crypto markets seemed to stabilize in the past 24 hours following a nearly week-long drop as ongoing geopolitical conflicts seemed to weigh down on prices of riskier assets.

Some analysts opined the current price action observed in bitcoin markets was not necessarily bullish or bearish, and pointed to an equilibrium among buyers and sellers instead. Traders are eagerly awaiting the approval of a spot bitcoin exchange-traded fund in the U.S., expecting the offering to open the floodgates to broader institutional demand and an inflow of new money.

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