Crypto Market Analysis Bullish
Market analysts noted mixed BTC funding rates turning short on ETH, signaling potential rebounds via liquidations, while detailed analysis showed BTC testing $64K support amid whale sells worth $60B. ETH turned bullish above $2,690 with a 90% drop in selling pressure, and alternative plays like HBAR showed 57% upside potential. Crypto inflows hit $120B pushing BTC/ETH up according to social media analysts.
- Recent market-wide outflows from digital asset funds, including a single week with $2 billion in outflows, have been countered by the massive success of new U.S. Spot Bitcoin ETFs, which have amassed over $54 billion in total net inflows since their inception. - The recent selling pressure on Bitcoin was largely attributed to major holders, as the "exchange whale ratio"—the proportion of exchange inflows from the top ten deposits—hit 0.64, its highest level since 2015. - Beyond the $64K support, Bitcoin is facing a more significant technical and psychological battle at the $70,000 mark, a previous support level that has now flipped to become a key resistance point. -
