While bitcoin holds near $63,000, some data points to pain ahead for bulls
Hex37's read
- Bitcoin price hovers around $63,000.
- On-chain data indicates weakening demand for Bitcoin.
- ETF demand for Bitcoin is notably decreasing.
What it means for traders
- Weakening on-chain demand and ETF outflows suggest potential downside for BTC.
- Traders should monitor ETF flows and on-chain metrics for further signals.
Affected markets
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