Bitcoin (BTC): Can we expect a bullish Spot Derivatives Flow pattern?

Bitcoin is the flagship crypto of the cryptographic universe. Since its creation in 2009, it has been in the sights of crypto-investors. While its price seemed to be going well, the events of the past few months have sown doubts. The value of BTC is anything but stable and investors are worried. However, it could probably form a bullish pattern in the coming days.

Could the current decline be a sign of recovery?

For several months, many cryptos have been in the red. While everyone already saw a world ruled by crypto assets, certain events are changing the game. Times seem difficult for these assets which enjoyed great potential a few months ago. The fall of bitcoin (BTC) is a dark time for many cryptocurrency holders.

Last year, bitcoin hit an all-time high. Some even predicted its price at more than 70,000 dollars. However, the volatility of digital assets will always be an aspect to consider when making an investment. The crypto that had already started its fall lost more than 50% of its value after the LUNA crash. In its decline, bitcoin drags down several cryptos that now fear reaching zero value.

No matter the difficulties, there will always be optimistic people. While some think about the end of the reign of bitcoin, others, on the contrary, predict that this sharp drop is only the storm before the good weather. The opinions of analysts are divergent and can quickly confuse the community. However, for one analyst, the spot flow from BTC to derivatives could be a sign of a bullish outcome.

According to this analyst, this flow of exchanges is a potential indicator that could show the trend that the price of bitcoin will take. Apparently, whenever a dip follows an increase in highs, the uptrend follows inexorably. The crypto saw similar charts in 2018, 2020, and 2021.

The large influx of bitcoin tokens to derivatives exchanges therefore suggests that a sizable spike could soon form on the chart. The flow of spot-derivatives has risen sharply recently, and it seems to be taking a dip right now. This could materialize his opinion.

What about the price of bitcoin (BTC)?

The price of bitcoin is driving the cryptocurrency world crazy. The crypto that had soared as high as $68,000 appears to be plunging into an unprecedented drop. In late May, BTC made a rally that reassured investors. Finally seeing bitcoin in the green after months of seeing red was like a big breath of fresh air. However, this trend did not last long.

Indeed, on May 30, bitcoin finally passed the $30,000 mark. In view of this rise, many investors predicted the continuation of the uptrend. However, very soon the crypto took a dive again. At the end of last week, it was trading around $29,000. But this week alarm bells are ringing for all crypto holders.

Bitcoin drops to $22,000 ! This is a price that we had not seen since 2020. The crypto is taking a historic fall which is shattering the last hopes of traders. Although many experts and analysts seem confident, the fall seems irreversible. The wind of panic which is currently rising in the stock markets leaves no room for doubt. In the past 24 hours, the crypto has lost nearly 11% of its value.

Bitcoin seems to be on a dead end. The frantic fall in its price is anything but reassuring. On the stock markets, there is a general panic. More and more investors are wondering what the future of BTC is. While some think about the end of bitcoin, others predict a historical bullish pattern in the short term. But before that happens, negotiators remain skeptical and prefer to observe. Simple speculation or reliable prediction? Only the future will tell us.

Source : Techtelegraph

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Eddy Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.

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Bitcoin (BTC): Can we expect a bullish Spot Derivatives Flow pattern?

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