3 reasons why Bitcoin struggles to overcome each new overhead resistance level

Bitcoin’s momentum loss continues as long-term holders add to the market selling pressure, and rising US dollar strength leads investors to reduce their exposure to risk.

Key takeaways:

Dormant Bitcoin holders moving large sums to exchanges raise concerns about long-term confidence amid growing concerns about the potential impact of quantum computing.

Strong inflows into Bitcoin ETFs failed to lift sentiment, with traders instead rotating toward fast-rising privacy coins, such as ZEC and DCR.

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