The Bitcoin market is showing signs of entering a bearish phase as the Inter-Exchange Flow Pulse (IFP) turns negative. The IFP tracks Bitcoin movements between spot and derivative exchanges and recent data suggests a decline in risk appetite among investors. A negative IFP indicates traders closing long positions and shifting Bitcoin into spot exchanges, which typically signals bearish sentiment. Technical indicators such as the MACD indicator and Relative Strength Index (RSI) also support a bearish view. Furthermore, Bitcoin's historical price behavior and analysis from trader Peter Brandt suggest potential downturns as the cryptocurrency approaches a key resistance level. Sustaining upward momentum is crucial for Bitcoin to overcome historical resistance levels and potential breakout.



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