Bitcoin price stalls as UNI, NEAR, OP and INJ project bullish price action in 2024

Bitcoin remains stuck inside an ascending triangle pattern, but UNI, NEAR, OP and INJ are showing promise in the short term.

Bitcoin (BTC) has been range-bound in the near term, but it has recorded an impressive run of more than 155% in 2023. The rally has boosted sentiment, with investors expecting the bull run to continue in 2024.

The earliest trigger will be from the decision on the spot Bitcoin exchange-traded fund applications by the United States regulator. Crypto options trading platform Greeks.live said in a recent tweet that options data suggests the markets have priced in the approval of the spot Bitcoin ETF. As a result, the firm believes that the markets may not witness a sharp move.

Irrespective of the short-term reaction to the ETF ruling, the crypto space is in a bull phase as Bitcoin and several major altcoins have been making higher highs and higher lows over the past several weeks. In an uptrend, dips are generally viewed as a buying opportunity.

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Source: https://cointelegraph.com/news/bitcoin-price-stalls-as-uni-near-op-and-inj-project-bullish-price-action-in-2024