Three signs that BTC was about to dump yesterday - before it did
Takeaways:
- There were several major red flags in Bitcoin's on-chain and social data ahead of the coin's 8.5% dump yesterday
- Assets covered: Bitcoin
- Metrics used: Exchange inflow, Token age consumed, Social volume
At the time of writing, Bitcoin is once again attempting to break the infamous $9000 resistance level, currently hovering tightly around the $8,914 range.
In fact, the top-cap coin went as high as $9370 during the day yesterday before experiencing a swift, short term correction - at one point falling to as low as $8,568 before bouncing back.
Which begs the question - were there signals that a short-term Bitcoin correction was imminent during Bitcoin's move above $9300 yesterday?
Yes. We’ll cover 3 of those signals here.
- 1. Massive spike in BTC’s Exchange Inflow
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