BTC USD signal sell
Bitcoin (BTC) price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. Moreover, a CryptoQuant’s report suggests that if demand growth and liquidity conditions do not improve, the price of Bitcoin could decline to $86,000.
Bitcoin’s price consolidates between $94,000 and $100,000 while its institutional demand weakens this week. According to Coinglass, Bitcoin spot ETF data recorded outflows totaling $489.6 million until Thursday, after $580.2 million the previous week. If the magnitude of the outflow continues and intensifies, the Bitcoin price could see further corrections.
Bitcoin’s price consolidates between $94,000 and $100,000 while its institutional demand weakens this week. According to Coinglass, Bitcoin spot ETF data recorded outflows totaling $489.6 million until Thursday, after $580.2 million the previous week. If the magnitude of the outflow continues and intensifies, the Bitcoin price could see further corrections.
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Check My Performance
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.