Bitcoin (BTC) saw weakness at the Jan. 25 Wall Street open as United States equities fell in step.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price faces stiff resistance
U.S. stocks saw a weak start to the session, with the S&P 500 and Nasdaq Composite Index down 1.1% and 1.6%, respectively, at the time of writing.
Bitcoin bulls had themselves faced trouble, attempting to push into an area of liquidity above $23,400, this so far remaining unchallenged and home to a significant number of would-be short liquidations.
Traders remained on the fence, hoping that a clearer trading signal would come after several days of essentially sideways price action.
“This is what I am looking for on Bitcoin with a corrective wave now, followed by another leg up to my $25,000 overall,” Crypto Tony commented alongside