Bitcoin Hits Year-To-Date Low Amid Heavy Outflows, Signs Of Spot Buying Emerge
Bitcoin slid to a year-to-date low of $74,500 on Monday, a move that wiped roughly 38% off its peak. Markets reacted sharply, and traders felt the pinch as flows out of big funds accelerated.
Where Support Might Hold
Based on reports, buying interest combined with very low valuation metrics could create an asymmetric trade. That means the potential upside may be larger than the near-term downside, at least for traders willing to accept volatility.
Historically, dips into the RSI zone seen last week have led to roughly 10% rebounds most of the time since August 2023, although outcomes vary and nothing is guaranteed.
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A Quiet But Real Conclusion
Institutional flows remain cautious. Major products such as the Grayscale Bitcoin Trust and the iShares Bitcoin Trust posted sizable outflows, signaling that some big holders stepped back.
Yet, on-chain and spot-volume signals hint that bargain hunting has started. The near-term path will probably be bumpy. Traders who want exposure will need to weigh the low valuation readings and pockets of buying against the very real possibility of further weakness if sentiment deteriorates again.
Featured image from Vecteezy, chart from TradingView
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