Bitcoin ETFs See Outflows as Exchange Inflows Hit 30-Day High
- ETF Outflows Deepen: As of April 28, U.S. spot Bitcoin ETFs recorded net outflows of $89.68 million, extending a three-day withdrawal streak, particularly led by BlackRock's IBIT with $112 million in outflows, indicating a weakening demand from institutional investors for Bitcoin exposure.
- Exchange Inflows Surge: On April 27, Bitcoin exchange net inflows reached 9,905 BTC, marking the largest single-day inflow in 30 days, suggesting that major holders may be preparing to sell or rebalance their assets, thereby increasing selling pressure in the market.
- Market Trading Volume Declines: Spot market activity for Bitcoin has sharply decreased, with trading volumes across major exchanges dropping to their lowest levels since the end of the previous bear market, as Binance alone lost $25 billion in trading volume, reflecting cautious market sentiment and liquidity concerns.
- Key Support Level to Watch: Analysts indicate that Bitcoin's structural bias remains bullish as long as BTC holds above $73,000, making this level crucial to monitor for potential impacts from ETF outflows and exchange deposits on market pressure.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 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 | 70545.925 | 72741.722 | 75094.065 | 77289.862 | 79642.205 | 81838.002 | 84190.345 |
| Fibonacci | 72741.722 | 74479.112 | 75552.473 | 77289.862 | 79027.252 | 80100.613 | 81838.002 |
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