CryptoQuant CEO: If BTC price approaches key support levels, demand may rebound
CryptoQuant founder and CEO Ki Young Ju posted on social media, "The net inflow rate of Bitcoin spot ETFs is slowing down. If the price of Bitcoin approaches a key support level, demand may rebound. The new whales are mainly ETF buyers, with an on-chain cost basis of $56,000. In a bull market, corrections usually lead to a maximum drawdown of about 30%, with the greatest pain point at $51,000."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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