Bitcoin is approaching a price zone between $64,000 and $74,000, which was rapidly traversed in August and is therefore thinly traded. This area could offer little resistance on the downside if market conditions remain weak. Over the past three days, spot Bitcoin ETFs recorded $1.043 billion in outflows, while the stock trading volume on Hyperliquid once again exceeded Bitcoin’s volume. The market is showing signs of cooling, but not capitulation: short-term holders’ share of supply is rising, while the percentage of supply in profit is declining. The negative Coinbase premium and the net taker buy-sell imbalance in futures also indicate weak U.S. investor interest and a persistently bearish tilt.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
