Bitcoin Rallies Higher Even As Derivatives Lack Conviction

BTC

BTC/USDT

$79,712.72

-0.23%

$79,712.72

-0.23%

(24s)

24h Volume

$7,048,503,612.24

24h H/L

$80,107.99 / $79,233.00

Change: $874.99 (1.10%)

Long/Short

53.3%

Long: 53.3%Short: 46.7%

Funding Rate

+0.0022%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,932.00

▲ 0.13%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$81,908.22

Resistance 1$80,157.58

Price$79,932.00

Support 1$79,635.96

Support 2$77,523.79

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):67.0

Cointelegraph Staff

(02:48 AM UTC)

1 min read

Key takeaways:

While Bitcoin onchain activity and derivatives show a lack of participation from traders, record spot ETF inflows point to strong institutional demand.
The absence of leveraged longs may actually fuel further upside as sellers are forced to buy back if Bitcoin edges higher.

Bitcoin (BTC) gained 7% over the past week, breaking above $81,000 for the first time in over three months.…