Bloomberg: Bitcoin's rebound is hindered, with weak buying dragging down the upward momentum

According to Bloomberg, Bitcoin is struggling to find a meaningful rebound after last month's decline, but the overall cryptocurrency market shows signs of fatigue. Bitcoin briefly broke above $107,000 on Monday before falling back below $105,000, highlighting that market sentiment remains fragile after a widespread sell-off that evaporated billions in market value. This drop is partly due to large holders taking profits near this year's highs, as well as lingering unease following the liquidation events in early October.

Funds flowing into exchange-traded funds on trading platforms also show little enthusiasm. On Monday, despite a rise in stock and credit markets after Washington took action to end the government shutdown, Bitcoin ETFs listed in the U.S. only attracted a net inflow of $1 million. From a technical perspective, Bitcoin remains pinned below its 200-day moving average, currently around $110,000—analysts believe this is a key threshold for any sustained upward movement.