Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
Information
Discover
Search
Login
简中
繁中
English
日本語
한국어
ภาษาไทย
Tiếng Việt
BTC
ETH
HTX
SOL
BNB
View Market
10x Research: The crypto market saw $3.3 billion in inflows last week, with market sentiment shifting from bearish to bullish
2024-07-16 05:34:24
Odaily News 10x Research said in its latest market analysis that Bitcoin is often subject to changing narratives, rumors and speculation, and can quickly adjust its value based on new information. Bitcoin has risen sharply by 10% since last Friday. The initial rebound that seemed oversold evolved into a breakout from a clear downtrend. Our key level ($61,133) was surpassed, marking a shift in market sentiment from bearish to bullish. Weekend rallies are usually driven by retail trading and positive market sentiment. Several positive factors maintained Bitcoin's momentum last Monday. After four weeks of net liquidity outflows totaling $8 billion, the crypto market welcomed $3.3 billion in inflows last week. This inflow, mainly from futures, stablecoins, and Bitcoin spot ETFs, marks a positive trend change. In addition, Tether issued an additional $1 billion in USDT.