💥Notable sell-off from US ETFs! Will the rise in Bitcoin continue?
Last week, the BTC price fell to as low as $74,435, starting the new week near $84,500. Thus, the rise from last week's low reached 14%. On the other hand, approximately $708 million in outflows were observed from Bitcoin ETFs traded in the US last week. Analysts point out the decline in the dollar index, indicating that $82,800 is a support level and $86,000 is a resistance level for BTC in the short term.
14% RISE FROM THE LOW
The BTC price, which fell to $74,435 last Monday, starts this week from levels close to $85,000. Today's rise of around 1% in US Nasdaq index futures is also positively reflected in BTC, with the rise from last week's low reaching 14%.
SELL-OFF FROM ETFs
Meanwhile, despite the increase in the last week, the selling of BTC by US funds did not go unnoticed. Last week, approximately $708 million in outflows were observed from Bitcoin ETFs traded in the US. In contrast, it was also noted that the "daily outflow" fell to $1 million on Friday.
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