BTC and ETH post-dip: Fundamental Analysis
The market-wide correction continued today, as Bitcon shed another -11.5% over the past 24 hours, dropping as low as $45,201 around noon CET. The downtrend promptly painted the top 20 coins in red, with only Solana (SOL) managing to buck the trend for the time being:
With all eyes now glued to the two biggest tokens, here’s a look at Bitcoin and Ethereum’s latest fundamentals:
As noted in our yesterday’s report, Bitcoin’s exchange inflow exploded around its price ATH, vaulting by around +345% compared to its previous 7-day average. The move suggested a strong and sudden rise in sell-side pressure, which evidently proved too difficult for the bulls to absorb.
Despite another downtrend, the amount of Bitcoin moving to known exchanges has largely normalized in the past 24 hours, although a few
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