CryptoQuant founder: Demand could rebound if BTC price approaches key support level
Jinse Finance reported that CryptoQuant founder Ki Young Ju posted on the X platform that the net flow of BTC spot ETFs is slowing down. If BTC price approaches key support levels, demand may rebound. The on-chain cost base for new whales (mainly ETF buyers) is $56,000. In bull markets, pullbacks typically require a maximum retracement of around 30%, with a maximum loss of $51,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto: How Europe Wants to Enforce Its Version of the SEC
Stablecoin : Western Union plans to launch anti-inflation "stable cards"
Mars Morning News | SEC Expected to Issue "Innovation Exemptions" for the Crypto Industry in "About a Month"
The SEC is expected to issue an innovation exemption for the crypto industry. The UK "Digital Assets and Other Property Act" has come into effect. BlackRock's CEO revealed that sovereign wealth funds are buying bitcoin. Bank of America recommends clients allocate to crypto assets. Bitcoin selling pressure is nearing its end. Summary generated by Mars AI. The accuracy and completeness of this summary are still being improved as the Mars AI model continues to iterate.
a16z: Inefficient governance and dormant tokens pose a more severe quantum threat to BTC.
Trending news
MoreCrypto prices
More
