Bitcoin’s Cooling Speculation and Key Liquidation Zones: What Could Shape Its Next Move?
Main Idea
Bitcoin's market is currently experiencing reduced speculative activity, with key indicators such as low funding rates and significant exchange outflows, while the $118K liquidation zone remains a critical factor for future price movements.
Key Points
1. Funding rates have dropped below 0.1%, signaling reduced speculative activity in Bitcoin's market.
2. Exchange outflows reached $113.32 million on August 8, indicating a preference for holding Bitcoin rather than trading it.
3. The $118K liquidation zone is crucial as it represents a resistance level where many leveraged positions may be liquidated, impacting Bitcoin's price.
Description
Bitcoin’s market is currently experiencing cooling speculation, indicated by falling funding rates and strong exchange outflows, reflecting investor confidence. Funding rates have dropped below 0.1%, signaling reduced speculative activity. Exchange
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