<Fundamental>
Investors withdrew over 30.7k BTC, lowering the bitcoin Balance on Exchanges to about 2.725 mln BTC, indicating lower market liquidity. ETF investors continue redeeming for the seventh consecutive day, with a two-day outflow totaling over 1300 mln USD. Reduced liquidity could trigger a sudden price rebound if selling pressure on ETF eases.
<Technical>
BTCUSD broke below 86500 and formed a lower low. The price is below both EMAs, indicating the persistent bearish momentum. If BTCUSD breaks above 86500, the price may retest the following resistance at 91100. Conversely, a retracement before resuming its downtrend to the support at 73200 may prompt a return to the resistance at 86500.
Investors withdrew over 30.7k BTC, lowering the bitcoin Balance on Exchanges to about 2.725 mln BTC, indicating lower market liquidity. ETF investors continue redeeming for the seventh consecutive day, with a two-day outflow totaling over 1300 mln USD. Reduced liquidity could trigger a sudden price rebound if selling pressure on ETF eases.
<Technical>
BTCUSD broke below 86500 and formed a lower low. The price is below both EMAs, indicating the persistent bearish momentum. If BTCUSD breaks above 86500, the price may retest the following resistance at 91100. Conversely, a retracement before resuming its downtrend to the support at 73200 may prompt a return to the resistance at 86500.
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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.