• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Time to Buy Bitcoin? $1.02B BTC Outflow Raises Hopes
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > Time to Buy Bitcoin? $1.02B BTC Outflow Raises Hopes
Crypto News

Time to Buy Bitcoin? $1.02B BTC Outflow Raises Hopes

vitalclick
Last updated: January 9, 2025 6:42 pm
5 months ago
Share
SHARE

Contents
$1.02 Billion Worth of BTC Outflow from Exchanges Is This the Right Time to Buy Bitcoin?BTC’s Path to $100K or a Drop to $74K?Current Price Momentum

Following the report released by the Institute for Supply Management (ISM), sentiment across the cryptocurrency landscape has shifted towards the bearish side for a short period. Amid this, Bitcoin (BTC) the world’s largest cryptocurrency by market cap has experienced a price decline of over 10% and has reached a crucial level.

$1.02 Billion Worth of BTC Outflow from Exchanges 

It has been three days since the market witnessed a continuous price decline, but one thing gathering significant attention from crypto enthusiasts is the ongoing accumulation by long-term holders, as reported by the on-chain analytics firm Coinglass.

Source: Coinglass

Data from spot inflow/outflow reveals that exchanges, during the same period, witnessed an outflow of over $1.02 billion worth of BTC. This substantial outflow indicates that long-term holders have withdrawn these BTC from exchanges to their wallets, which is a positive sign.

Is This the Right Time to Buy Bitcoin?

This data clearly shows that whales and long-term holders are consistently buying BTC, taking advantage of the recent price decline ahead of President-elect Donald Trump’s inauguration.

BTC’s Path to $100K or a Drop to $74K?

With the continuous price decline, the BTC price has reached its crucial level near the $92,250 mark, where it consistently experiences price rebounds. Historically, BTC has reached this level four times, and each time it witnessed a rally of nearly 10%.

Source: Trading View

Based on this data, experts and analysts speculate a similar upside momentum. If this occurs, there is a high possibility that Bitcoin could once again reach the $100,000 mark in the coming days.

Meanwhile, if BTC fails to hold this crucial level and closes a daily candle below the $91,000 mark, there is a strong possibility it could drop another 18% to reach the $74,000 support level.

Current Price Momentum

Currently, BTC is trading near $92,450 and has experienced a price decline of over 1.40% in the past 24 hours. Meanwhile, traders and investors appear hesitant to participate, resulting in a 9% drop in trading volume.

You Might Also Like

Why XRP Is Winning Institutional Trust?

Impact on Trump Customs Tariff Moves and Crypto Money Market

Alameda Research Sells Over 1.5M WLD Coins as Worldcoin Aims for a Comeback

Breaking News: Elon Musk Cryptocurrency Statement January 7

Louisiana State Begins Accepting Cryptocurrency Payments

TAGGED:CryptoNews
Share This Article
Facebook Twitter Email Print
Previous Article January 10, Big Day, Data to Be Announced and Cryptocurrency Expectations
Next Article Memecoin Frenzy Is About To Begin With Five Picks That Could Gain 7,000 Percent Next Week
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?