Analysis: BTC has fallen to the 50-day moving average, remain cautious about future trends

BTC has fallen to its 50-day moving average, and analysts believe that caution is needed for future market conditions. The test of the closely watched average proves that BTC will "return to neutral bias" during the "consolidation phase," Katie Stockton, technical analyst at Fairlead Strategies LLC, wrote in a report. U.S. ETFs that invest directly in Bitcoin have attracted more than $12 billion in net inflows since Trump's victory, but subscriptions have slowed recently, with 12 ETFs seeing net outflows of $680 million on December 19. BTC has risen 125% so far this year, outperforming returns from traditional investments such as global stocks and gold. The broader crypto market index, which includes cryptocurrencies such as ETH and Dogecoin, has also doubled. (Bloomberg)