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BTC Shows Bearish Signs

Emily Mason

Summary: Bitcoin is sending some bearish signals as the currency stalls at $9,700 after months of trending upwards, according to analysts. One analyst pointed to lots of long positions underwater on Bitfinex and too much funding as signs of a coming turn downwards for BTC. Another analyst noted that if the currency drops below it's current ...

Bitcoin is sending some bearish signals as the currency stalls at $9,700 after months of trending upwards, according to analysts.

One analyst pointed to lots of long positions underwater on Bitfinex and too much funding as signs of a coming turn downwards for BTC. Another analyst noted that if the currency drops below it's current level it could face much bigger losses. At the time of writing BTC is trading at $9,703. 

By Emily Mason

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