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CryptoQuant founder: Demand could rebound if BTC price approaches key support level

CryptoQuant founder: Demand could rebound if BTC price approaches key support level

Bitget2024/03/22 06:44
By:Bitget

Jinse Finance reported that CryptoQuant founder Ki Young Ju posted on the X platform that the net flow of BTC spot ETFs is slowing down. If BTC price approaches key support levels, demand may rebound. The on-chain cost base for new whales (mainly ETF buyers) is $56,000. In bull markets, pullbacks typically require a maximum retracement of around 30%, with a maximum loss of $51,000.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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