The post Is Bitcoin Bullish Despite Pullback Or Will It Plunge By Over 30%: Analysts Predict appeared first on Coinpedia Fintech News
Bullish Trend For Bitcoin
An analyst has explained how the data of an on-chain indicator could indicate that a bullish trend is still on for Bitcoin despite the latest pullback.
In a new post on X, CryptoQuant author Axel Adler Jr has talked about the latest trend in the Bitcoin Coinbase Flow Pulse. The “Coinbase Flow Pulse” refers to an indicator that keeps track of the total amount of BTC flowing into Coinbase from other centralized exchanges.
The Bitcoin inflow to CoinBase from all exchanges remains in the green zone, indicating strong demand for coins in the US market.
Despite the local pullback, the bullish trend persists. pic.twitter.com/T0otiBIQ2m
— Axel Adler Jr (@AxelAdlerJr) October 4, 2024
He shared a chart that shows the trend in the 30-day and 90-day simple moving averages of this indicator over the last few years. Not
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