#BitcoinPriceAnalysis 🔥🔥🔥
While Bitcoin rocketed to $69, 000, Glassnode cautions that the $62, 000 floor is still extremely important. Here's a quick wrap, up:
Shorts Liquidated: As Bitcoin recovered, nearly $500M worth of shorts were wiped out.Key Levels:Resistance: $70, 000Support: $62, 000 (critical), $60, 000 (February range bottom)Bullish Signals:US spot Bitcoin ETFs saw $257.7M net inflows on Feb 24.Leverage reset, options panic hedging faded.Bearish Concerns:47% drawdown from all, time highs.Weak accumulation, negative spot flow bias.Glassnode says Bitcoin is "stabilizing, not yet recovering". To confirm recovery, we need sustained ETF inflows, spot markets flipping bid, and reclaiming $70, 000+.
Would you be interested in learning more about Bitcoin's price predictions or ETF trends?
