Basic Points:
-
Bitcoin “approached” to the next local bottom after a trip below the $ 109,000 mark.
-
A positive return of the Coinbase premium, which increases the hope of a recovery in US demand.
-
The ETF flows on Monday positively with a surprise return despite the fall of the BTC price.
Bitcoin (Btc) Combined around $ 110,000 on Tuesday Wall Street Open amidst the signs of a recovery in the crypto market.
Coinbase Premium Rebound complies with $ 700 million extermination
Data from Cointelegraph Markets Pro and Tradingview Showing BTC volatility prices in cooling after a fresh rotation of losses.
These resulted in a wave of long liquid worth more than $ 700 million for 24 hours until the time of writing, per data from Coinglass.
BTC/USD dropped to $ 108,717 on Bitstamp, below the old all-time highs visible at the start of the year.
Amid fears of a $ 100,000 support retest or worse, some market participants have seen a reason for optimization.
“The BTC is approaching the bottom,” Bitbull’s famous businessman write In part of his latest review of X.
“There is still a chance of $ 106k- $ 108k retist level, but for now I look forward to a bounceback.”
Bitbull identified the encouraging signals from the US, where the Coinbase Premium Index Reented positive territory on Tuesday.
The index measures the difference in BTC prices between Coinbase BTC/USD and Binance BTC/USDT pairs, and when green, it indicates the strengthening of demand in the US market.
“The Coinbase Bitcoin Premium has become positive during the bottom and long prevention is overwhelming. It shows that Max. The disease is here and expects a short rally,” Bitbull concluded.
Others also expect a rebound, along with fellow businessman Mister Crypto who sees a short squeeze next thanks to a significant build-up of short positioning above $ 115,000 in the Exchange Order books.
Analyst: Bitcoin in “Uncanny” Q2 Rerun
Anywhere, Cas Abbe, a contributing to the Onchain Analytics Platform Cryptoquant, suggested that the current price action is, in fact, familiar.
Related: Bitcoin has dropped under $ 109K: How low is the BTC price?
Bitcoin, he said, acted similarly during a retraction in June, when BTC/USD reached all times as high as $ 112,000 before falling around $ 98,000.
“The BTC chart is like a Q2 2025 fractal is pointless. Similarly lower and a capitulation that forced everyone to think ‘done,'” he he he he he Commented During the day.
An accompanying chart emphasizes similarity.
Usually to Previous price drawdowns.
“The macro uncertainty of the past few weeks directly appears in the flows,” it endedAdding that ETF flows are “pulling bitcoin lower.”
Last Monday, however the ETFs achieved a positive flow Only under $ 220 million, per data from UK -based firm Farside Investor.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
