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via Cointelegraph · By Cointelegraph Staff

Bitcoin Rallies Higher Even As Derivatives Lack Conviction

BTC

BTC/USDT

$59,885.22

-2.66%

$59,885.22

-2.66%

(24s)

24h Volume

$33,265,429,573.37

24h H/L

$61,962.40 / $58,115.01

Change: $3,847.39 (6.62%)

Long/Short

68.3%

Long: 68.3%Short: 31.7%

Funding Rate

+0.0011%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$59,877.47

▲ 0.14%

Volume (24h): -

Resistance Levels

Resistance 3$70,463.52

Resistance 2$63,309.38

Resistance 1$60,995.63

Price$59,877.47

Support 1$59,788.84

Support 2$58,115.01

Support 3$51,387.09

Pivot (PP):$59,484.41

Trend:Downtrend

RSI (14):30.9

Cointelegraph Staff

(02:48 AM UTC)

1 min read

Verified byMichael Roberts

1140 views

0 comments

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.…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

Cointelegraph Staff · Cointelegraph

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