Spot Bitcoin ETF rose above $48,000 after its approval and opening for trading. BTCencountered a selling pressure here and fell to $ 45,000 levels.
Popular cryptocurrency analyst as investors await further rise in BTC after ETF approval Ali Martinez said that Bitcoin is in a downward trend.
At this point, the analyst examining Bitcoin’s Inter-Exchange Flow Pulse (IFP) Indicator pointed out that this indicator fell below its 90-day average.
Stating that this decline historically indicates a downward trend in the Bitcoin and crypto market, Martinez warned investors.
“Could we see a top for Bitcoin?
The Inter-Exchange Flow Pulse (IFP), which tracks BTC flows between various trading platforms, has fallen below the 90-day average.
Historically, this decline generally indicates a bearish trend in the Bitcoin and crypto market!”
Could we be seeing a market top for #Bitcoin?
The Inter-exchange Flow Pulse (IFP), which tracks $BTC flows between various trading platforms have just fallen below its 90-day average. Historically, this shift often signals a bearish turn in the #crypto market! pic.twitter.com/ohkaKHP7ZO
— Ali (@ali_charts) January 12, 2024
Even though this indicator gives a decline signal, do not make your investment decisions based on a single data or signal. These indicators and data are helpful data that have a margin of error and have never been proven to be 100% accurate.
Make your investment decisions based on your own research.
Bitcoin At the time of writing, it continues to be traded at $ 46,077.
*This is not investment advice.
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