Over the past few weeks, the Bitcoin price of Bitcoin has outperformed many other digital assets, indicating its domination in the market.

However, despite favorable macro market conditions, Bitcoin price has not experienced a significant rally, possibly due to the broader market remaining technically bearish.

Analysts suggest that BTC’s/USD’s recent run-up may have been primarily due to excessive bearishness from the Traditional Finance market.

Moreover, even with the S&P and gold markets performing well, Bitcoin failed to rally. The US banking crisis and the weakening of the United States Dollar showed the most bullishness for BTC/USD

, but it still did not go beyond $30,000.

One reason could be that macro liquidity is consistently draining, with banks experiencing a decline in value.

Additionally, meme coins like PEPE rose to fame, taking attention away from Bitcoin as people focused on making money rather than Holding for long-term gains.

The current regulatory landscape has also affected Bitcoin’s growth, with many companies and exchanges being careful due to Bittrex filing for Chapter 11 bankruptcy.

However, Bitcoin’s price still has room for growth, with three key support levels to watch out for $27,000, $26,192, and $25,000.

Investors are still accumulating or moving their Bitcoin into self-custody wallets given the conditions of the crypto exchanges right now.

Finally, in the span of 48 hours, nearly 180,000 BTC/USD has left the exchanges, and the BTC/UTD supply across all crypto exchanges is at the lowest point in more than five years since December 2017.

f you want to analyze Bitcoin, Click https://www.etoro.com/markets/btc