财经少华
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Bitcoin falls 5%, should we sell or hold?
Bitcoin has recently seen significant price fluctuations, dropping from a peak of $12.3 at the end of July to around $11.2, currently oscillating near $11.45, with a 24-hour trading volume down over 23%.
The main reason for the decline is the increase in inflow to Binance (from 5,300 BTC to 7,000 BTC, ending the April downtrend), and the whale ratio on the exchange has reached 0.73, indicating that large holders dominate the market and selling pressure is rising.
However, not all indicators are negative: the fund flow ratio has dropped to 0.053, with the volume flowing to exchanges decreasing, and the stock flow ratio has risen to a monthly high of 646.21, indicating increased scarcity.
Momentum indicators show a strong downtrend; if negative sentiment continues, it may test the support at $110,000. If selling pressure eases, it could consolidate in the range of $113,000 - $117,000.
#BTC🔥🔥🔥🔥🔥
Bitcoin has recently seen significant price fluctuations, dropping from a peak of $12.3 at the end of July to around $11.2, currently oscillating near $11.45, with a 24-hour trading volume down over 23%.
The main reason for the decline is the increase in inflow to Binance (from 5,300 BTC to 7,000 BTC, ending the April downtrend), and the whale ratio on the exchange has reached 0.73, indicating that large holders dominate the market and selling pressure is rising.
However, not all indicators are negative: the fund flow ratio has dropped to 0.053, with the volume flowing to exchanges decreasing, and the stock flow ratio has risen to a monthly high of 646.21, indicating increased scarcity.
Momentum indicators show a strong downtrend; if negative sentiment continues, it may test the support at $110,000. If selling pressure eases, it could consolidate in the range of $113,000 - $117,000.
#BTC🔥🔥🔥🔥🔥
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
114,234.29
+0.29%