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26 July 2021

Institutional demand for Bitcoin evaporates as BTC struggles below $31K

Institutional demand for Bitcoin evaporates as BTC struggles below $31K


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Data from Cointelegraph Markets Pro and TradingView shows that a wave of mid-day selling pushed the price of BTC to a low of $30,400 before bulls arrived to provide support and lift the price back to $30,850.

Insights into the current state of the Bitcoin network were provided in the newest report from Glassnode which set the stage by looking at the UTXO Realized Price Distribution, a metric that identifies on-chain volume profiles across different price groupings.

Data from Glassnode shows that the ETF saw a net outflow of -90.76 BTC, which is its largest outflow since mid-May.

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BTC gains 15% in 3 hours amid tight squeeze
published: 8 minutes ago
A sharp squeeze has seen Bitcoin quickly rally to test $40,000 for the first time in roughly six weeks, reclaiming its 50-day moving average in the process.

sentiment (-0.1) Negative

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cointelegraph.com
Market data feeds provided by cryptocompare.com
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