Bitcoin saw a sharp 4% drop today, falling below the $67,000 mark. Historically, Bitcoin has faced challenges during the third quarter, with an average return of 6.49% and a median return of -2.57%.
Beware!
Historically, #Bitcoin has struggled in Q3, with an average return of 6.49% and a median return of -2.57%. pic.twitter.com/6IJtHcK4ZL
— Ali (@ali_charts) June 10, 2024
Despite the decline, the TD Sequential indicator has flashed a buy signal on Bitcoin’s hourly chart, suggesting a potential rebound of one to four candlesticks, according to analyst Ali Martinez on X. This could indicate a short-term recovery for $BTC.
The TD Sequential presents a buy signal on the #Bitcoin hourly chart, predicting a potential rebound of one to four candlesticks for $BTC! pic.twitter.com/pnAMFHHbPe
— Ali (@ali_charts) June 11, 2024
Open interest in Bitcoin remains near all-time highs at $18.752 billion, reflecting heightened trading activity, strong market sentiment, and the potential for increased volatility.
🚨 $BTC #ETF Net Inflow June 10, 2024: -$65M!
• The net inflow turned negative after being positive for 19 consecutive trading days.
• The single-day inflow of #BlackRock (IBIT) dropped dramatically from $168M to only $6.3M.
• #Grayscale (GBTC) has maintained an outflow of… pic.twitter.com/nZcO8CbkTV
— Spot On Chain (@spotonchain) June 11, 2024
Bitcoin ETFs Net Inflow Records Massive $65 Million
Recent ETF flows also highlight market dynamics. On June 10, 2024, Bitcoin ETFs saw a net inflow of $65 million. However, this turned negative after 19 consecutive days of positive inflows.
BlackRock’s (IBIT) single-day inflow plummeted from $168 million to just $6.3 million, while Grayscale’s (GBTC) outflows have remained around $38 million for the past three days.
🚨 $BTC #ETF Net Inflow June 10, 2024: -$65M!
• The net inflow turned negative after being positive for 19 consecutive trading days.
• The single-day inflow of #BlackRock (IBIT) dropped dramatically from $168M to only $6.3M.
• #Grayscale (GBTC) has maintained an outflow of… pic.twitter.com/nZcO8CbkTV
— Spot On Chain (@spotonchain) June 11, 2024
These developments underscore the complexity of Bitcoin’s market, with significant fluctuations in trading activity and investor sentiment influencing its price movements.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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