📉 Bitcoin's price is on a bit of a rollercoaster ride, folks! 🎢 Despite positive US inflation reports, we're seeing a dip from the $70K mark, currently chilling around $57K.
• The 200-day moving average is playing hard to get, rejecting Bitcoin's advances and hinting at a possible drop to $52K.
• On the 4-hour chart, a further downtrend seems likely unless the trendline breaks to the upside.
But hey, let's not forget about our Bitcoin miners! 👷♂️
• The Bitcoin miner reserve metric (aka how much BTC they're hoarding) is on the decline, suggesting they're selling more than they're mining.
• This could mean they're not too confident about an uptrend and might be adding to the selling pressure.
What do you guys think? Is Bitcoin heading for a dip or will it bounce back? Let's chat in the comments! 💬 #Bitcoin #MarketTrends
