Krutika Adani
Bitcoin ETFs have witnessed a net inflow in the last seven days due to accumulation and price recovery.
Bitcoin’s hash rate has dropped recently as several miners find it difficult to operate at new block rewards of 3.125 BTC.
The changes in the Bitcoin on-chain trends, such as the waking of ancient whales and retail accumulation, suggest that the markets expect a bottom very soon.
Despite the recent recovery, Bitcoin’s price might be suppressed in the next 2-3 months due to selling by whales and old addresses.
Bitcoin quoted the price of $57k at press time. With support at $55k and $52k, Bitcoin’s price has the next resistance at $60k, followed by $62k.
Bitcoin quoted the price of $57k at press time. With support at $55k and $52k, Bitcoin’s price has the next resistance at $60k, followed by $62k.