Opinion: Bitcoin's current rebound should be approached with caution; $57,000 could signal a long-term demand recovery.
BlockBeats News, February 3, according to analyst @alicharts who posted yesterday, since January 19, crypto ETF capital flows have remained negative. In the week of January 19, about 17,400 bitcoin were sold through ETFs. In the following week, another 9,540 bitcoin were sold. This marks two consecutive weeks of continuous outflows after the price fell below the ETF cost basis. The analyst therefore believes that the recent rebound should be approached with caution. Without new capital inflows, the upward movement may only be a correction rather than a trend reversal.
If selling pressure continues to intensify, the next important price level to watch is the 200-week moving average, which is currently near $57,000. According to historical data, this level has played a key macro support role during long-term corrections and may also be a potential point for strong long-term demand recovery.
BlockBeats notes that as of press time, on the first trading day of this week, US crypto ETFs showed net inflows, and there has not yet been the panic sell-off among ETF investors that the market fears.
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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