Bitcoin's price has been volatile, initially declining but then surging above $94,000 due to reports of a US strategic crypto reserve. However, as of now, BTC is trading below $93,000, indicating an unstable upward momentum. An analysis of Bitcoin's net exchange flow suggests that exchange inflows and outflows may impact its short-term price direction. On February 25, there was a significant inflow to exchanges, suggesting increased selling pressure and leading to a price decline. On February 26, a substantial amount of BTC was withdrawn from exchanges, indicating a preference for holding and supporting price stability. Another analysis indicates that Bitcoin holders are selling at a loss, potentially indicating capitulation but historically followed by market recoveries. Overall, these trends in exchange movements and selling behavior may shape Bitcoin's future price movements.



Other News from Today