Key derivatives metrics and ETF flows suggest lack of demand, but macro forces offer hope.
Bitcoin remains under pressure near $68,000 even as panic ebbs
Key derivatives metrics and ETF flows suggest lack of demand, but macro forces offer hope.
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The latest price moves in bitcoin (BTC) and crypto markets in context for May 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto
Traders are focused on short-term levels, with resistance near $2.10 and support around $2.04.
The renewed bearish flip in funding rates comes amid risk-off in Wall Street's tech-heavy Nasdaq index.
Bitcoin's price has now corrected approximately 6% since the all-time high break on Nov. 13.