Bitcoin

Coin

<ul class="news-points">
 <li>Gustavo Faria thinks that a local bottom has emerged on the Bitcoin price.</li>
 <li>Bitcoin underwent a correction of approximately 15% in the past three weeks.</li>
 <li>OI figures indicate a greater balance between buyers and sellers.</li>
</ul>
Bitcoin may have found a local price floor, according to Gustavo Faria, co-founder of analytics firm Nosy. Faria’s analysis cites key on-chain and market indicators suggesting a potential turning point for the leading cryptocurrency.
In a <a href="https://cryptoquant.com/insights/quicktake/667adec2a0017a125b2c7a56-Signs-of-a-Local-Bottom" target="_blank" rel="noopener noreferrer nofollow">recent analysis</a>, Gustavo Faria observed that Bitcoin has experienced a 15% correction over the past three weeks, falling from the $70,000 range to the $60,000 range.
Meanwhile, the financial expert observed a crucial development in the futures market, with open interest declining by about $3 billion in the past three weeks, primarily due to long liquidations. Faria identified a development that indicates a more balanced dynamic between buyers and sellers. He noticed that funding rates for perpetual contracts have dropped to near zero, resulting in a healthier and less overly optimistic price structure.
Faria’s analysis also covered Short-Term Holders (STHs), whose realized price he indicated was $62,600. …
The post <a href="https://coinedition.com/u-s-economic-data-to-determine-short-term-bitcoin-price-movement/" rel="noopener noreferrer nofollow">U.S. Economic Data to Determine Short-Term Bitcoin Price Movement</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

U.S. Economic Data to Determine Short-Term Bitcoin Price Movement

Coin Edition

在 2024年6月26日發表的其他文章

BNB Chain Proposes Governance-Enabled Block Production to Boost Transaction Capacity

Best Cryptocurrency to Buy: BlockDAG Gains Investor Interest Amid Ethereum Liquidations and Aptos...

Top Trader Wonders If 'Safer Big Caps Like Pepe, Dogecoin' Will Outperform His Meme Coin Portfolio

Abra, CEO Barhydt settle with 25 US states over licensing violations

Solana Foundation Unveils Shareable Links for Seamless Transactions

Crypto Analyst Warns of a Major Ripple Dominance Fall: Says XRP Rejection from This Channel Could...

訂閱免費電子報，每天收取加密貨幣最新動態！