CryptoQuant Founder: If BTC price approaches key support levels, demand may rebound
2024/03/22 06:25
CryptoQuant founder Ki Young Ju posted on platform X, stating that the net flow of BTC spot ETFs is slowing down. If the BTC price approaches a key support level, demand may rebound. The on-chain cost basis for new whales (mainly ETF buyers) is $56,000. In a bull market, pullbacks usually require around 30% maximum retracement, with a maximum loss of $51,000.
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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.
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