| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107272.0100000000 |
| ETH | $2434.3170000000 |
| BNB | $648.0549700000 |
| XRP | $2.1850000000 |
| ADA | $0.5650631000 |
| SOL | $150.7561000000 |
| DOGE | $N/A |
| DOT | $3.4037100000 |
| LTC | $86.2454000000 |
| LINK | $13.3566800000 |
Category: CRYPTO NEWS
The post Bitcoin Bulls Are Gaining The Edge, And $120k Could Be Close: CryptoQuant appeared on BitcoinEthereumNews.com. Key Insight: Bitcoin recently reclaimed the $107k price level and major moving averages, which shows an incoming surge to $120,000. A massive drop in Bitcoin inflows to exchanges shows that investors are less likely to sell. The current Bitcoin inflow/outflow ratio is mimicking levels seen at the beginning of the 2023 bull market. Bitcoin is back in the spotlight after reclaiming one of its most important technical levels and showing signs of lower short-term selling pressure. The cryptocurrency is now trading just above $107,000, and some analysts believe the next stop could be as high as $120,000. This optimism is fueled by falling inflows to exchanges, macro conditions, and several bullish technical patterns. A Drop in Bitcoin Inflows Shows Confidence One of the strongest signals for Bitcoin’s upward movement is in the data from Binance. According to recent insights from CryptoQuant, the 30-day moving average (DMA) of BTC inflows to Binance recently dropped to just 5,147 BTC. Bitcoin’s exchange inflows, Source: CryptoQuant That’s less than half the monthly average during previous bear markets, even as prices continue to hover above $105,000. For some context, in December 2024, when Bitcoin was trading below $100,000, the inflow rate was over 13,000 BTC. The difference between today’s low inflow levels and current higher prices shows that fewer holders are looking to cash out. In crypto markets, a drop in exchange inflows tend to show reduced selling pressure and rising investor sentiment. According to insights from Bitcoin researcher Axel Adler Jr., the current inflow/outflow ratio is still relatively high. It is similar to levels last seen at the beginning of the 2023 bull market. Meanwhile, the inflow/outflow ratio (Inflow/Outflow 30-day SMA) remains at a high level, comparable to the end of 2023 -beginning of the bull market, which indicates still strong demand for…
2025-06-26T18:45:08+00:00
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