Bitcoin Price Breakout Above $90,000 Likely As Macro Bearish Cues Saturate

Bitcoin has been in a downtrend since mid-January, with attempts to break this cycle met with market resistance.  While recent price action made it seem like BTC’s downtrend could worsen, the ongoing market conditions show promise for a potential recovery. Bitcoin Has Suffered For Long Strong evidence of a cash-and-carry trade can be found by comparing the flows into US Spot ETFs and the Open Interest (OI) across CME Futures contracts. As the long-side bias in the market starts to weaken, the unwinding of this carry trade becomes evident source: https://beincrypto.com/bitcoin-price-breakout-likely/