Key points:
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Bitcoin risks falling into the $105,000 to $100,000 range over the weekend.
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Ether has pulled back in the near term, but remains above the crucial $4,094 support.
Bitcoin (BTC) dropped near $108,100 on Friday, its lowest level since July 8. That suggests the bulls are losing their grip. Veteran trader Peter Brandt said in a post on X that BTC needs to climb back above $117,570 to “discount the past 7 weeks as a possible double top.”
Despite the near-term weakness, network economist Timothy Peterson sounded bullish on BTC’s prospects for the rest of the year. In a post on X, Peterson said that BTC has risen 70% of the time in the last four months leading up to Christmas, recording an average gain of 44%.
BTC’s uncertainty seems to be driving investors toward Ether (ETH). Since Aug. 21, BTC exchange-traded funds have recorded about $350 million in inflows while ETH ETFs have…
