On March 17th, CryptoQuant analyst @AxelAdlerJr stated that recent inflows into Bitcoin spot ETFs have rebounded, but the Bitcoin price remains $5,174 below the ETF's effective price (note: this can be approximated as the average cost price of Bitcoin held by the ETF). The analyst suggested that a recovery in demand could drive prices up, but resistance around $80,000 might trigger profit-taking, and subsequent macroeconomic data should be monitored to assess breakout potential.
All Comments