Oversold conditions in buying + covering of short-selling positions at exposed sales centers
+ Inflows to exchange-traded funds (ETFs)
The convergence of three buying forces following a sustained decline showed that technical indicators were in a state of severe overselling. This coincided with short-covering operations and institutional activity aimed at buying the dip through exchange-traded funds, which formed a three-pronged inflow of capital—providing strong support at low levels and establishing a solid base in the range of $62,400–$63,000.
#BTC
+ Inflows to exchange-traded funds (ETFs)
The convergence of three buying forces following a sustained decline showed that technical indicators were in a state of severe overselling. This coincided with short-covering operations and institutional activity aimed at buying the dip through exchange-traded funds, which formed a three-pronged inflow of capital—providing strong support at low levels and establishing a solid base in the range of $62,400–$63,000.
#BTC