Bitcoin’s 9-Year Low on Coinbase: A Springboard to Unprecedented Peaks
Bitcoin Coinbase 9-year low has taken a fascinating turn, with Bitcoin’s value on Coinbase plummeting to a 9-year low. This event, intriguingly, could pave the way for a groundbreaking surge in Bitcoin’s price, potentially reaching a new high of $75,000, according to data from analytic entity Glassnode. The data reveals a significant drop in Bitcoin’s balance on Coinbase to 344,856 as of March 18, indicating a shift in Bitcoin investors’ strategy. Rather than immediate selling, investors are opting to transfer their assets off the exchange platform for long-term holding. This move could alleviate the short-term selling pressure associated with the Bitcoin Coinbase 9-year low, possibly sparking an upward trend in Bitcoin’s price. Santiment’s data corroborates this trend, showing a decrease in Bitcoin held on centralized exchanges. Recently, these exchanges have been experiencing more outflows than inflows, suggesting a potential shift in market sentiment. With Bitcoin’s price now surpassing $70,000, anticipation is building that this could be the beginning of a trend propelling Bitcoin to new heights. Adding fuel to the optimistic fire, Spot Bitcoin ETFs reported a collective net inflow of $15.7 million on March 25, indicating a positive shift following last week’s negative flows. The crypto community is keeping a close eye on these flows as they could signify a rejuvenated bullish outlook on Bitcoin.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
Source article…
