NEWSLETTER
bitcoin (btc) has suffered its second largest correction of this execution of Toro, according to crypto Exchange Bitfinex analysts. The correction, from the historical maximum of $ 109,590 of the currency established on January 20 to a minimum of $ 77,041 during the week of March 9 to 15, represents a 30% setback activated by the sale of the pressure of the headlines in the short term.
In his report, Bitfinex defines short -term holders as those who have bought in the last seven to 30 days. Depending on the exchange, they have suffered unrealized net losses are often more subject to capitulation.
Bitfinex points out that the current departures of bitcoin ETFs, which totaled around $ 920 million during the week of March 9 to 15, suggest that institutional buyers have not yet returned with enough force to combat the sales pressure.
bitcoin Capital Flow by short -term holders. Fountain: Glassnode/Bitfinex
Nearly around $ 84,357, bitcoin has recovered 9.5% of its minimum. According to Bitfinex, a key factor in the future will be if institutional demand increases at these lower levels, which potentially leads to the absorption of supply and price stabilization.
“While institutional flows and the macro situation are fundamental for the market management in the middle of the period, statistically, a 30 percent reduction has often marked the low before the highest continuation,” Bitfinex analysts said to Cointelegraph. “If bitcoin stabilizes around this level, history suggests that it could follow a strong recovery.”
https://www.youtube.com/watch?v=mwoufftwirpg
bitcoin ETPS See $ 5.4b at exit for five weeks
The weekly exits of the products listed in crypto exchange (ETPs) have reached a five -week streak, for a total of $ 6.4 billion as of March 14. According to Coinshares data, the bitcoin ETPs have given the worst part of the exits, with $ 5.4 billion in losses.
The current macroeconomic climate can be weighing in the markets, according to Bitfinex. The consumer confidence of the United States has fallen to its lowest level in two years, and there are expectations of greater inflation along with economic uncertainty. On March 4, a Federal Reserve model predicted that the economy of the United States would be reduced by 2.8% in the first quarter of 2025.
Meanwhile, commercial wars conversations continue to dominate the news, questioning the state of bitcoin as a safe asset, keeping the miners alert and perhaps putting the upward market, despite the recent announcement of the White House of a US bitcoin strategic reserve and a digital asset reserve.
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