PANews February 21 News, according to The Block, on-chain analysis firm Glassnode pointed out that Bitcoin has fallen below the True Market Mean. Historically, this indicator has often served as the dividing line between expansion and contraction cycles. Currently, the structural support level below may be around $54,900. Additionally, the net flow of US spot Bitcoin ETFs has resumed a continuous outflow, weakening the support previously provided by marginal demand. In the derivatives market, panic sentiment has eased but has not turned optimistic. Implied volatility has retreated from its high levels, indicating traders are unwinding downside protection positions but have not yet widely established long positions.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Hashrate Slips Below 1 Zettahash as Miner Revenue Remains Thin
Bitcoin's hashrate has fallen below 1 zettahash due to diminished miner revenue, with hashprice at $31 per petahash. This has led to thinner margins for miners, who may benefit from an upcoming difficulty reduction.
Coinpedia1h ago
Bitcoin Cash Battles $459 Resistance as Massive Sell Walls Stack Toward $650
BCH is trading at $455.86 close to the resistance range of $459.20 with the support level of $447.44.
The chart data indicates that the chart has strong resistance levels at around $520, $580 and $650 which restricts the momentum on short term upside.
Following a sharp fall, price
CryptoNewsLand1h ago
Bitcoin and XRP Hold Gains as Regulatory Debate Shapes Market Outlook
Bitcoin and XRP maintained steady prices on Sunday as the broader cryptocurrency market posted modest gains. The recovery followed renewed buying activity and stronger market sentiment across major digital assets. Meanwhile, political debate in Washington over crypto regulation added a new layer
CryptoBreaking2h ago
