Bitcoin Clings On to Critical Support Amid the broader horizontal market trend, Bitcoin (BTC-USD) sustained its sideways momentum this week. The flagship currency jumped from last week’s lows to reach a high of $19,889.15 and is currently holding above the $19,100 mark. The latest on-chain data from CryptoQuant highlights that approximately 48,000 BTC have been withdrawn from Coinbase throughout the week. This massive outflow is the biggest since June 2022, with exchange outflows typically viewed as a bullish sign. Nevertheless, the technical price action does suggest that Bitcoin might have further room to fall as it nears a breakout.
