Bitcoin

April

Arkham

Material

Grayscale Bitcoin Trust

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) struggles to regain momentum after dipping below $69,000.</li>
 <li>Bitcoin whales may utilize the US Consumer Price Index (CPI) print to lower prices and enter fresh long positions.</li>
</ul>
<p>Bitcoin’s price remained uncertain after the Wall Street opening on April 9, as macro data hinted at possible further price drops for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>.</p>
<h2 id="bitcoin-whales-and-cpi-print">Bitcoin Whales and CPI Print</h2>
<p>Trading data revealed that BTC/USD had dipped below $69,000 as Wall Street recommenced trading. Despite this, bullish investors struggled to regain ground towards the current all-time high of $73,800.</p>
<p>Material Indicators, a trading resource, highlighted that Bitcoin whales were attempting to lower prices to establish new long positions. They suggested that the target timeframe was the upcoming release of the US Consumer Price Index (CPI) print.</p>
<p>The company noted that this type of behavior often occurs around economic reports. If the Core Inflation numbers are high, whales may be able to extend the downside move. However, they usually buy the dip and exploit the upside liquidity void they created for a relatively quick move up.</p>
<h2 id="btc-outflows-continue">BTC Outflows Continue</h2>
<p>Meanwhile, pressure persisted among spot Bitcoin exchange-traded funds (ETFs). April 9 saw a net outflow of $200 million, largely driven by a significant outflow from the Grayscale Bitcoin Trust (GBTC).</p>
<p>This unexpected outflow caught market observers by surprise. Preliminary data for April 10 showed these GBTC outflows were only increasing. Crypto intelligence firm Arkham reported them at around 6,200 BTC ($434 million), marking the largest dollar amount in several weeks.</p>

Examining Bitcoin’s Price Drop Below $69K: CPI Impact and Whale Movements

目錄

crypto.ro global

在 2024年4月9日發表的其他文章

Great Danger in the App on Everyone’s Phone: Investors Should Do This To Prevent Cryptocurrencies...

Ethereum Classic (ETC) Price Prediction April 2024, 2025, 2026, 2030, 2040 – 2050

Investors Attracted by Strong Performance on $MEDA Presale Token; THORChain and Optimism Price De...

Base Network Shatters Performance Metrics with Record User Engagement and Earnings

Opportunities: Shiba Inu (SHIB), Ripple (XRP), and Furrever Token (FURR) Investment Guide

Seeking the Biggest Gainers of the Year? Look No Further Than $RECQ Presale for Prospects Outshin...

訂閱免費電子報，每天收取加密貨幣最新動態！