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Bitcoin Liquidity Resting Above $70,000 As Coinbase Metrics Reveal Strong Demand
The post Bitcoin Liquidity Resting Above $70,000 As Coinbase Metrics Reveal Strong Demand appeared on BitcoinEthereumNews.com. Since last Friday, Bitcoin has seen a 4% retrace, following a strong 15% surge from its local lows. Despite this recent momentum, the market faces uncertainty and volatility as BTC trades below the crucial $60,000 level—a psychological mark that signals direction. Investors are watching closely to see whether Bitcoin can regain strength and break past this key resistance or continue to struggle in the short term. There are signs of recovery, however, as Coinbase data shows BTC has been trading at a price premium again, indicating strong demand. Additionally, key data from Coinglass highlights critical liquidity levels that BTC may target in the coming weeks. These factors suggest BTC is now at a pivotal moment, with its price action over the next few days likely to determine the market’s direction in the months ahead. Traders and investors are bracing for Bitcoin’s next big move. Bitcoin Consolidation Could Be Over: $70,000 Next? The past few weeks have encouraged Bitcoin, sparking hope and optimism among investors bracing for a deeper correction. Recent data indicates a positive shift in market sentiment. Analyst Daan highlighted on X that BTC has been trading at a premium on Coinbase, a sign of renewed spot demand from U.S. investors and potential interest from ETFs. This premium is generally bullish, reflecting increased buying activity and confidence in BTC’s future. Bitcoin Coinbase premium index turns positive. | Source: Daan on X CryptoQuant chart However, significant discounts on exchanges, often seen at market bottoms, can signal bearish sentiment, though they also offer potential entry points for savvy investors. Complementing this, Coinglass has provided key metrics on Bitcoin’s liquidity levels. The Binance BTC/USDT Liquidation Heatmap shows that BTC recently absorbed a large liquidity cluster below $50,000 during the August 5th sell-off. This move cleared substantial support levels, leaving fewer significant clusters…
The post Bitcoin Liquidity Resting Above $70,000 As Coinbase Metrics Reveal Strong Demand appeared on BitcoinEthereumNews.com.
Since last Friday, Bitcoin has seen a 4% retrace, following a strong 15% surge from its local lows. Despite this recent momentum, the market faces uncertainty and volatility as BTC trades below the crucial $60,000 level—a psychological mark that signals direction. Investors are watching closely to see whether Bitcoin can regain strength and break past this key resistance or continue to struggle in the short term. There are signs of recovery, however, as Coinbase data shows BTC has been trading at a price premium again, indicating strong demand. Additionally, key data from Coinglass highlights critical liquidity levels that BTC may target in the coming weeks. These factors suggest BTC is now at a pivotal moment, with its price action over the next few days likely to determine the market’s direction in the months ahead. Traders and investors are bracing for Bitcoin’s next big move. Bitcoin Consolidation Could Be Over: $70,000 Next? The past few weeks have encouraged Bitcoin, sparking hope and optimism among investors bracing for a deeper correction. Recent data indicates a positive shift in market sentiment. Analyst Daan highlighted on X that BTC has been trading at a premium on Coinbase, a sign of renewed spot demand from U.S. investors and potential interest from ETFs. This premium is generally bullish, reflecting increased buying activity and confidence in BTC’s future. Bitcoin Coinbase premium index turns positive. | Source: Daan on X CryptoQuant chart However, significant discounts on exchanges, often seen at market bottoms, can signal bearish sentiment, though they also offer potential entry points for savvy investors. Complementing this, Coinglass has provided key metrics on Bitcoin’s liquidity levels. The Binance BTC/USDT Liquidation Heatmap shows that BTC recently absorbed a large liquidity cluster below $50,000 during the August 5th sell-off. This move cleared substantial support levels, leaving fewer significant clusters…
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