财经若欣
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只是一枚天天努力上行的人而已
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Life has many crossroads, and different choices lead to different directions.
What I offer here may not be a broad road, but it definitely won't be a winding path～
Go with the flow, bring the essence B_ruoxin
What I offer here may not be a broad road, but it definitely won't be a winding path～
Go with the flow, bring the essence B_ruoxin
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Bitcoin (BTC) $2.25 billion outflow from exchanges may drive its return to all-time highs
Bitcoin (BTC) has fallen by 5% over the past week. The leading currency is trading at $96,005, below the key $100,000 price level.
Interestingly, the recent drop has not triggered a wave of sell-offs. This indicates that bullish sentiment remains strong, with market participants expecting the token's price to rebound above $100,000 in the short term.
According to data from CryptoQuant, the net outflow of BTC from cryptocurrency exchanges has exceeded $2.5 billion in the past week. The net outflow from exchanges tracks the number of coins or tokens withdrawn from exchange wallets.
When the outflow of an asset surges, it indicates that holders are turning to private wallets rather than trading or selling. This often signals bullish sentiment, as investors may expect prices to rise.
Commenting on its impact on Bitcoin, the analyst known as CryptoQuant, KriptoBaykusV2, noted in a recent report: "If the trend of Bitcoin outflows continues, it could alleviate the selling pressure in the market. With the supply of Bitcoin available on exchanges decreasing while demand remains stable or increases, prices may see upward momentum."
Additionally, the positive funding rate for the token supports the likelihood of this upward forecast in the short term. Currently, the funding rate in the perpetual futures market is 0.0081.
When the funding rate of an asset is positive, it means that long positions are paying short positions. This indicates bullish market sentiment, with traders expecting prices to rise.
The market decline has caused the BTC price to fall below its Ichimoku Cloud's leading span A, forming dynamic resistance at $100,160. This indicator tracks the momentum of market trends for assets and identifies potential support/resistance levels.
When an asset's price is below the leading span A of the Ichimoku chart, it indicates a bearish trend, as selling pressure is strong and buyers are struggling to push prices higher. This situation often signals the potential for further declines, unless the price breaks through the cloud.
A successful breakthrough of this level will push Bitcoin to reach its historical peak of $108,388. On the other hand, failure to break through this resistance could lead to a decline in the Bitcoin price to $95,690.
Bitcoin (BTC) has fallen by 5% over the past week. The leading currency is trading at $96,005, below the key $100,000 price level.
Interestingly, the recent drop has not triggered a wave of sell-offs. This indicates that bullish sentiment remains strong, with market participants expecting the token's price to rebound above $100,000 in the short term.
According to data from CryptoQuant, the net outflow of BTC from cryptocurrency exchanges has exceeded $2.5 billion in the past week. The net outflow from exchanges tracks the number of coins or tokens withdrawn from exchange wallets.
When the outflow of an asset surges, it indicates that holders are turning to private wallets rather than trading or selling. This often signals bullish sentiment, as investors may expect prices to rise.
Commenting on its impact on Bitcoin, the analyst known as CryptoQuant, KriptoBaykusV2, noted in a recent report: "If the trend of Bitcoin outflows continues, it could alleviate the selling pressure in the market. With the supply of Bitcoin available on exchanges decreasing while demand remains stable or increases, prices may see upward momentum."
Additionally, the positive funding rate for the token supports the likelihood of this upward forecast in the short term. Currently, the funding rate in the perpetual futures market is 0.0081.
When the funding rate of an asset is positive, it means that long positions are paying short positions. This indicates bullish market sentiment, with traders expecting prices to rise.
The market decline has caused the BTC price to fall below its Ichimoku Cloud's leading span A, forming dynamic resistance at $100,160. This indicator tracks the momentum of market trends for assets and identifies potential support/resistance levels.
When an asset's price is below the leading span A of the Ichimoku chart, it indicates a bearish trend, as selling pressure is strong and buyers are struggling to push prices higher. This situation often signals the potential for further declines, unless the price breaks through the cloud.
A successful breakthrough of this level will push Bitcoin to reach its historical peak of $108,388. On the other hand, failure to break through this resistance could lead to a decline in the Bitcoin price to $95,690.
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After the second test of the big cake on Monday, the rapid rebound entered the tug-of-war mode again. If there is no continuous market, we will treat it as a point-by-point attack.
Without too much explanation, you can enter the market when it rebounds to 96200. Pay attention to the 942-938 line to see if it forms a third test of $BTC $ETH #BTC☀️ #比特币行情
Without too much explanation, you can enter the market when it rebounds to 96200. Pay attention to the 942-938 line to see if it forms a third test of $BTC $ETH #BTC☀️ #比特币行情