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Thursday

13 May 2021

Funding Rates Low After 10K Rally, What This Means For Bitcoin’s Price

Funding Rates Low After 10K Rally, What This Means For Bitcoin’s Price


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Bitcoin has been sitting above a critical support zone during the weekend.

The analyst believes that the demand for BTC in the market is rising and could contribute to more appreciation.

Therefore, and in spite of a rise in the whale’s activity, the analyst believes the rally has been driven organically by investors in the spot market.

Data provided by Glassnode via analyst Clemente indicates that 14.46% of BTC’s supply has been bought in the mid area of the $50,000 range

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