Traders say Bitcoin run to $44K may be a relief bounce, citing a repeat of December’s ‘nuke’ By Cointelegraph

© Reuters

(BTC) may have rallied to $44,000 on the back of United States inflation data, but according to traders, there is little hope of a sustained comeback.

In a Twitter (NYSE:) discussion on Jan. 12, data analyst Material Scientist warned that a significant downside may still return to Bitcoin price action.

buy/ sell level heatmap (Binance) showing November bid and ask behavior. Source: Material Scientist/ Twitter