Bitcoin ETF Cash Flow Update: Based on cash flow data, BTC peaked at 73k8 but cash flow was only approximately 1/10 of the previous day
Large funds like Grayscale continuously sell BTC (Today sold 348 million USD)
Besides, technical analysis shows a short-term BTC downtrend. If the important support level in the 58-60k price range does not hold, it will continue to fall to the 50-52k range.
Large funds like Grayscale continuously sell BTC (Today sold 348 million USD)
Besides, technical analysis shows a short-term BTC downtrend. If the important support level in the 58-60k price range does not hold, it will continue to fall to the 50-52k range.
Comment:
The upcoming Bitcoin halving event has investors and analysts looking forward to it, as history shows a mixed immediate impact but an extremely positive long-term effect. Previous halvings have seen Bitcoin increase in price from 292% to over 8,000%, raising questions about whether this trend will continue.
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Bitcoin has recovered to nearly $69,800 after falling from $70,200 to $69,000 during the day.