Bitcoin (BTC) price has gradually lost its initial July bullish momentum during the past three weeks. The flagship coin has consolidated in a choppy fashion during the past three weeks below $120k amid robust fundamentals, which ordinarily favors bullish sentiment.
According to market aggregate data from TradingView, BTC price slipped below $117k on Wednesday, resulting in the liquidation of long traders. However, Bitcoin’s OI-weighted funding rate has remained positive in the past 30 days, signaling the existence of macro bullish speculative trading.
Source: Coinglass
Bitcoin Price Falters on Uncertainty in Monetary Policy
Wednesday’s 1.4 percent Bitcoin price drop to trade at about $116,246 during the mid-North American session was influenced…
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