You are currently viewing Bitcoin Sends Mixed Signals At $23,000, Capped Upside Potential?

Bitcoin keeps on moving sideways as the weekend approaches and, with less trading volume on exchange platforms, the cryptocurrency hints at potential losses. BTC’s price has surrendered the gains from the past week but has been able to hold to its current levels as critical support.

At the time of writing, Bitcoin (BTC) trades at $23,000 with sideways movement over the past 24 hours and a 3% loss over the past week. The first cryptocurrency by market cap has been severely outperformed by Binance Coin (BNB) and Polkadot as risk appetite seems to return to the crypto market.

BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview

In a recent report, trading firm QCP Capital reiterates its position: BTC’s price upside potential will remain capped after a bullish response to last week’s macro-economic events. The firm expects Bitcoin and Ethereum to move sideways during the coming weeks with

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