Bitcoin ETF Inflows Exceed $1 Billion Amid Price Dip

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

Should l Buy BTC?

Price Dip Analysis: Bitcoin fell to $79,800 on Thursday after failing to break a major resistance level; however, ETF inflows surged past $1 billion for the first time, indicating sustained market interest in Bitcoin.
Technical Indicator Signals: The relative strength index (RSI) showed negative divergence on one- and four-hour charts, suggesting waning buying appetite, with $78,500 emerging as a key support level; maintaining above this threshold may limit downside risks.
Market Expectations and Analysis: Analyst Jelle noted that the 200-day moving average has turned into resistance, with $78,000 as the first significant support level; a retest of this level could set new price targets, emphasizing the need to monitor major support and resistance levels closely.
ETF Inflows and Risk Index: This week, Bitcoin ETFs saw net inflows of $1.05 billion, marking an annual high, while Swissblock reported a near-zero Bitcoin Risk Index, indicating a low-risk environment that may encourage investor buying interest.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	67071.441	71004.48	74983.921	78916.96	82896.401	86829.44	90808.881
Fibonacci	71004.48	74027.048	75894.393	78916.96	81939.528	83806.873	86829.44

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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