Matrixport: Bitcoin may retrace to the nearest support level of $73,000, corresponding to BlackRock's IBIT at around $40
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Matrixport: Bitcoin may retrace to the nearest support level of $73,000, corresponding to BlackRock's IBIT at around $40
Matrixport released today's chart, showing Wall Street has become a significant player in Bitcoin, with Bitcoin's 60% market dominance remaining a key benchmark in the crypto market, as institutional trading behavior increasingly influences its price movements. Concerns over potential delays of up to six months regarding Trump's proposed tariffs and Bitcoin strategic reserve plan may be one reason behind the technical top formation currently visible on the chart. BlackRock's IBIT ETF recently experienced a significant trading day, reaching $5.1 billion in daily trading volume—though not a record high, still a substantial figure. From a technical analysis perspective
Navigating Web3 tides with focused insightsTechFlow news, on February 26, Matrixport released its chart of the day, indicating that Wall Street has become a significant player in Bitcoin, and Bitcoin's 60% market dominance remains a key benchmark for the crypto market, with institutional trading behavior increasingly influencing its price movements. Concerns over potential delays of up to six months regarding Trump's proposed tariffs and Bitcoin strategic reserve plan could be one reason behind the current technical topping pattern shown on the chart.
BlackRock's IBIT ETF recently experienced a major trading day, reaching a single-day trading volume of $5.1 billion—though not a record high, still a substantial figure. From a technical perspective, Bitcoin may retrace to its recent support level at $73,000, corresponding to approximately $40 for the IBIT ETF.
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