Bitcoin’s (BTC) price fell over 6% at some point this week until Thursday, extending losses for a second consecutive week, as it faced rejection from a key resistance barrier.
Bitcoin price extends its decline for a second consecutive week until Friday after rejection from a key resistance barrier. US spot Bitcoin ETFs posted $103.5 million in inflows until Thursday. On-chain data shows some signs of optimism for Bitcoin in the long term. Bitcoin ’s price fell over 6% at some point this week until Thursday, extending losses for a second consecutive week, as it faced rejection from a key resistance barrier.
Reserve on Exchanges chart. Source: CryptoQuant Bitcoin technical outlook Bitcoin’s weekly chart shows that the biggest crypto asset by market capitalization faced resistance after testing the descending trendline last week and continued to decline by over 6% so far until Thursday. This descending trendline roughly coincides with the weekly resistance level of around $65,800, making it a key resistance zone.
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