The price is at the support level of July 2021, but the situation is different from that time
The situation is different from July 2021, when Bitcoin was in the same range of $ 30,000.
The US dollar index, which has a negative correlation with bitcoin, is increasing
The US stock market has lost support levels and is in a downtrend
The buyer to seller ratio is in favor of the sellers
And we have seen significant negative NetFlow in the market.
Miners have sold their bitcoins based on the MPI index
Banks' bitcoin reserves are declining, and the slight increase in recent days is not enough to reverse the trend.
In the technical chart, Bitcoin has lost the support level of MA 2Y
These are not good signs for Bitcoin
The situation is different from July 2021, when Bitcoin was in the same range of $ 30,000.
The US dollar index, which has a negative correlation with bitcoin, is increasing
The US stock market has lost support levels and is in a downtrend
The buyer to seller ratio is in favor of the sellers
And we have seen significant negative NetFlow in the market.
Miners have sold their bitcoins based on the MPI index
Banks' bitcoin reserves are declining, and the slight increase in recent days is not enough to reverse the trend.
In the technical chart, Bitcoin has lost the support level of MA 2Y
These are not good signs for Bitcoin