Bitcoin News
By Pankaj K
1 / 11
Bitcoin (BTC) has been facing a rough patch, as its price struggles to gain momentum, slipping 1.7% in the past 24 hours.
2 / 11
The Inter-Exchange Flow Pulse (IFP) is a crucial metric that tracks Bitcoin movement between spot and derivative exchanges.
3 / 11
According to Maartunn’s analysis, the IFP has recently turned negative, signaling that Bitcoin is flowing out of derivative exchanges at a higher rate.
4 / 11
Bitcoin has been battling to break through significant resistance levels, particularly the $98.8K mark.
5 / 11
Furthermore, a bullish trend line at $97,500 has been broken, which adds to the bearish outlook.
6 / 11
As the price remains below the critical $97K resistance, Bitcoin faces the risk of further declines.
7 / 11
However, it’s not all doom and gloom. Bitcoin has seen similar market conditions in the past, and while a deeper correction could be on the horizon, the $92K support could hold…
8 / 11
The combination of a negative IFP, selling pressure, and the struggle to break key resistance levels has led many analysts to believe that Bitcoin could be entering a period of…
9 / 11
The market sentiment around Bitcoin’s price remains fragile, with institutional traders and retail investors alike watching closely to see how Bitcoin handles these bearish…
10 / 11
With Bitcoin at a critical juncture, traders and investors will be watching closely for any signs of a potential rebound or deeper sell-off.
11 / 11
In the coming days, the next crucial moves for Bitcoin will depend on its ability to either break through resistance or consolidate further before a potential recovery.
The Currency Analytics
Want the full story?