Good Morning☀️

The Israel-Iran war, customs tariffs, the FED's hawkish statements, and dozens of negative news in recent weeks have not prevented $BTC from holding around $105k.

In such sideways movements, opinions are divided;

🔹Bulls think that since the price hasn't dropped, it will rise.

🔸Bears think that since it hasn't risen, it will fall.

In fact, it is sufficient to only follow the underlying data during sideways movements. If a decline is going to occur after the sideways movement, a weakening will be seen in the data.

Looking at the last two weeks, aside from Coinbase sales, there is no negative data or weakness visible.

Especially when we look at CME (Chicago Mercantile Exchange) data, we can say that institutional interest is still extremely high.

Bitcoin first reached the $105k region 42 days ago. The price is still at the same level, but in these 42 days, ETF investors have accumulated approximately $6 billion worth of BTC.

The decline in Coinbase CVD that occurred during the same period was around $1.3 billion. So, we can say that ETF purchases are overshadowing other negative data and holding the price. For this reason, we do not see the recent Coinbase sales as a problem.

As long as the data and trend structure maintain the $100k support, it will continue to remain positive, friends. I wish everyone a beautiful day and abundant profits.