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Crypto

Bitcoin Dips Below $84K on Profit-Taking but Underlying Demand Remains Strong

Guavy AI Editorial Team
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BTC
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Bitcoin experienced a decline below $84,000 on Thursday due to heavy profit-taking by investors after its recent rally. However, it has since recovered and is now trading above $84,200.

The continued accumulation of coins by larger holders and sustained exchange-traded fund inflows indicate that underlying demand remains strong.

The Relative Strength Index (RSI) on the daily chart sits at 64, indicating positive momentum but not extreme conditions. The Moving Average Convergence Divergence histogram also remains in positive territory.

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