Bitcoin has been moving sideways, slipping 1.7% in the past 24 hours. But there’s more at play beneath the surface – an emerging trend that could signal trouble ahead. CryptoQuant analyst Maartunn has raised an alarm, pointing out that the Inter-Exchange Flow Pulse (IFP) has turned negative. This shift hints at a loss of confidence among traders, and if the selling pressure intensifies, Bitcoin might be headed for a drop to $92,000.
Curious about what the IFP means and how it could impact Bitcoin’s price? Let’s dive deeper.
The IFP tracks Bitcoin movement between spot and derivative exchanges. When Bitcoin moves out of derivative exchanges into spot markets, it signals that traders are closing long positions and turning cautious.
Maartunn’s analysis shows that the IFP has now turned negative, meaning Bitcoin is leaving derivative exchanges at a faster rate. This suggests traders may no longer be confident in the market’s upward momentum.
Could Bitcoin Be Heading for a Correction?
When traders pull funds from derivatives, Bitcoin often faces downward pressure. In the past, similar trends have led to market slowdowns or even corrections. If this pattern continues, Bitcoin could see reduced volatility or a deeper decline.
Bitcoin has struggled to break past $98,800 despite holding above $95,000. After reaching this high, BTC lost momentum and dropped below key support levels at $97,000 and $96,000.
Adding to concerns, Bitcoin recently broke below a bullish trendline at $97,500 and is now trading around $96,100—below the 100-hour simple moving average. This indicates that sellers are gaining control.
If Bitcoin fails to reclaim $97,000, it could see further declines, with the next critical support zone at $92,200. Traders should watch for increased volatility in the coming days.
As traders grow cautious, the charts hint at a make-or-break moment for Bitcoin. We’ll keep you updated.
Bitcoin is down due to a negative Inter-Exchange Flow Pulse, signaling loss of confidence and increasing selling pressure.
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