Bitcoin Bounce Back: Will It Break $63K Level As $253.6M in BTC ETFs Spark Bullish Hopes!
The post Bitcoin Bounce Back: Will It Break $63K Level As $253.6M in BTC ETFs Spark Bullish Hopes! appeared first on Coinpedia Fintech News
Bitcoin is on its way to making a strong comeback. After dropping to $59,000, BTC has climbed back above the crucial $62,000 level, capturing everyone’s attention again! Meanwhile, data from On-chain data provider CryptoQuant shows that the number of Short-Term Holders (STH) has fallen from 55%.
Besides this, spot Bitcoin ETFs have recorded a big net inflow of $253.6 million after three days of losses.
Bitcoin At Crucial Level: Will It Hold $62.7K?As Bitcoin’s price continues to trade sideways, the spotlight is now on short-term holders (STH) and how they affect market movements. Recent analysis from CryptoQuant shows a notable drop in the realized share of STH, falling from 55% three months ago to 40% today.
STH Key Level: $62.7K – Will It Break or Hold?
“The critical STH price level is $62.7K, consistent with the 3 months. Since the market has been hovering around $62K, breaking above this key level could indicate a more positive market structure.” – By @Yonsei_dent
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