Bitcoin Jumps Above $90K Again: Traders Fear Another Rejection
Bitcoin experienced a sharp price increase on Monday morning, following a string of days with little to no movement. After rising to slightly over $90,000, the price ran into resistance. This makes one wonder if the most recent bounce is just a rerun of the market’s recent patterns. Sharp rejections and sideways market action have frequently accompanied breakout attempts toward $90,000 in recent weeks.
BTC Buying Signals Strengthen as Whales Re-Enter the Market
CW credited a positive alignment between retail and whales who are concurrently purchasing Bitcoin for today’s price rebound. Given that retail has been on the sidelines for some time, particularly since the October crisis, the analyst thinks their comeback is extremely noteworthy. CW clarified in a different post that nearly every exchange, particularly Binance, is displaying robust BTC buying signals.
Whales who had been resting are back.
CW
Martinez: Capital Outflows Signal More Downside for Crypto
However, Ali Martinez has provided a different perspective on the issue. In his opinion, the cryptocurrency is making another dead-cat bounce before possibly falling even more. The absence of real positive capital flows served as justification for his relatively pessimistic estimate. Conversely, the net capital flow is now negative and has fallen below $4.5 billion.
This means money is currently leaving crypto rather entering it,
Martinez
It’s a similar trend to the spot Bitcoin ETFs that have been losing money for months. They plummeted from about $63 billion in net inflows in early October to a little under $57 billion as of Friday’s close, according to recent reports.
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