Bitcoin Faces Price Movement with Mixed Market Signals
Main Idea
Bitcoin (BTC) recently experienced price volatility, testing a new liquidity gap and retracting from its all-time high, with mixed signals in spot and futures markets.
Key Points
1. Bitcoin tested a liquidity gap between $104,000 and $114,000 before retracting from its all-time high.
2. The Relative Strength Index (RSI) in the spot market dropped from 74.4 to 51.7, indicating buyer fatigue.
3. Daily trading volumes in the spot market fell to $8.6 billion, but Spot CVD showed a recovery to $45.6 billion, signaling renewed demand.
4. ETF flows declined by 80% weekly to $496 million, with trading volumes dropping to $18.7 billion.
5. On-chain data showed a 2.4% decrease in active addresses to 708,000 and a 23% drop in transfer volume, but speculative interest remained due to rising fees and other metrics.
Description
Bitcoin tested a new liquidity range, eventually dropping from its all-time high. Mixed signals emerged from spot, futures, and options markets, indicating uncertainty. Continue Reading: Bitcoin Faces Price Movement with Mixed Market Signals The post Bitcoin Faces Price Movement with Mixed Market Signals appeared first on COINTURK NEWS .
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