Bitcoin Faces Uncertainty Amid Competing Bullish and Bearish Forces
• Bull case driven by falling rates, peaking dollar, potential BTC ETF approval, increased institutional demand (e.g. MicroStrategy)
• Bear case includes bearish technical signals, coins flowing back to exchanges, CME gap risk, easing futures demand
• SEC has to approve or deny BTC ETF between Jan 5 - Jan 10, 2024
• Peter Schiff recently noted gold at all-time high unlike BTC
• Over $26M in BTC long positions liquidated recently, 62% of total