CryptoQuant founder: Demand could rebound if BTC price approaches key support level
Ki Young Ju, the founder of CryptoQuant, stated on X platform that the net flow of BTC spot ETF is slowing down. If the BTC price approaches a key support level, demand may rebound. The on-chain cost basis for Whale (mainly ETF buyers) is $56,000. In a bull market, the pullback usually requires a maximum retracement of about 30%, with a maximum loss of $51,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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