BTC and ETH post-dip: Fundamental Analysis

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Ibis
Feb 24, 2021

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.

BTC, exchange inflow, past 7 days (Source: Sanbase)

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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Assets from this insight

Bitcoin logo

BitcoinBTC

$ 50808.30

13.37%in last 7d
Ethereum logo

EthereumETH

$ 4423.53

6.84%in last 7d
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