Bitcoin price is falling below $ 60,000 – but here’s why a bigger rally may be brewing


Bitcoin price is falling below $ 60,000 – but here’s why a bigger rally may be brewing

((BTC) cut some gains and fell below $ 60,000 on March 14, a day later set a new all-time high from $ 61,950 on Binance. However, data on the chain suggests that the uptrend is likely to continue in the short term.

An important metric that signals an optimistic short-term trend for Bitcoin is the increase in stable Bitcoin deposits in exchanges.

Bitcoin funding rates. Source: Bybt.comBiTC currency reserve (blue), stablecoin inflows (green) versus BTC price (yellow). Source: CryptoQuant

Read on on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. As a result, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur using this information.

Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.

Comments are closed.