Bitcoin defends $80K — Relief bounce or deeper $77K test next?
Photo: AMBCrypto
From 5th to 8th of October, Bitcoin's [BTC] price slid by 7.59% from a peak of $87,000 to a low of $80,393. Since then, however, it has bounced back to trade at $82.8K at press time. Now, even though the higher timeframe price structure has remained bullish, the buyers do not have a clear advantage. In fact, elevated market stress signals and net Bitcoin flows into exchanges showed why buyers should remain cautious. A slight short-term BTC tilt towards caution According to CryptoQuant, from 7th to 9th of October, 11,325 BTC left exchanges.
Source: AMBCrypto
