After dipping below $58K earlier this week, BTC bounced back above $ 62K. Whales accumulated $16.7B worth of BTC in just two weeks while ETFs were bleeding. Interesting dynamic, right?
Key levels to watch this weekend:
๐ธ $62,660 - 200-week SMA. A break above could confirm the bullish narrative
๐ธ Below $62K - short-term resistance; might see consolidation
The bigger picture:
Tiger Research says we're in the final quartile of this bear market. Bitwise CIO agrees, calling a bottom.
Meanwhile, more BTC is held at a loss than at a profit; historically, this has marked cycle lows.
Weekend trading = lower liquidity = more volatility. Not financial advice, just data.
Stay informed. Stay decentralized. ๐
๐ http://trade.xbts.io