Bitcoin sees 30% retracement as selling pressure increases — Bitfinex

Quick Summary:

According to Bitfinex, a key factor moving forward will be whether institutional demand picks up at these lower levels, potentially leading to supply absorption and price stabilization.“While institutional flows and the macro situation is pivotal for market direction in the mid-term, statistically, a 30 percent drawdown has often marked the low before continuation higher,” Bitfinex analysts told Cointelegraph.“If Bitcoin stabilizes around this level, history suggests a strong recovery could follow.”Bitcoin ETPs see $5.4B in outflows over five weeksWeekly outflows from crypto exchange-traded products (ETPs) have reached a streak of five weeks, totaling $6.4 billion as of March 14.

Bitfinex notes that ongoing outflows from Bitcoin ETFs, which totaled around $920 million during the week of March 9-15, suggest that institutional buyers have not yet returned with enough strength to combat selling pressure.

Bitcoin (BTC) has undergone its second-largest correction of this bull run, according to analysts at crypto exchange Bitfinex.

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Article Details

Author / Journalist: Cointelegraph by Christopher Tepedino

Category: Crypto

Markets: United States

Topics: Holders March Outflows Institutional Analysts According Short-term Bitcoin Bitfinex Demand Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 21:00:00 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27114470

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