Bitcoin Price Battle for $40,000 Continues – Here’s What BTC Bulls Need to Do

Bitcoin price wavers has $40,000, but in chain And technical data hint has early panels of A recovery.

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Bitcoin (BTC) price has fallen 20% Since THE launch of place Bitcoin AND F In THE United States. BTC abandoned has $38,000 on Jan. 23. However, Bitcoin whales to have used THE recent withdrawal has buy on THE soak as bulls aim has to recover $40,000.

Data Since Cointelegraph Markets Pro And Trading View watch A BTC price increase has $40,000 on Jan. 25, but intraday price action suggests holding THE level will stay A challenge.

BTC/USD every day chart. Source: TradingView

Let's go take A look has THE factors that to have traders feeling optimistic about A Bitcoin price recovery above $40,000.

Slow-down GBTC sale back costs bullish feeling

From Bitcoin AND F turned In A “sell the news” event, traders to have missing THE momentum has beat THE air pressure. This has has been blame on big exits Since THE Shades of grey Bitcoin Trust (GBTC), which East maybe A reflection of investors choose has move In THE Bitcoin AND F with lower fresh.

Notably, there has has been A decline In THE exit of funds Since GBTC For two consecutive days, signagesignage reduced see...