The post Has Bitcoin Established a Local Bottom Yet? CryptoQuant Reveals appeared first on Coinpedia Fintech News
Bitcoin (BTC) price has stabilized above $60,550 in the past four months, despite the heightened fear of further crypto capitulation. The flagship coin traded around $61,377 on Wednesday, after dropping from around $70k in the past few weeks.
Positive Cash Inflow to Spot Bitcoin ETFs
After more than two weeks of sustained cash outflows, the United States’ spot Bitcoin exchange-traded funds (ETFs) registered a small cash inflow, of $31 million. Fidelity’s FBTC and Bitwise-backed BITB registered a total cash inflow of about $49 million and $15 million respectively.
Grayscale’s GBTC registered a cash outflow of about $30 million on Tuesday, while BlackRock’s IBIT did not record any cash flow.
Local Bottom?
Signs of a Local Bottom?
After a 15% correction, #Bitcoin shows potential signs of a local bottom. Open interest has declined, funding rates are ne
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