Bitcoin’s fall below $60,000 signals near-term weakness, but longer-term investors continue withdrawing coins from exchanges, signaling a bullish outlook.
Bitcoin (BTC) continues to witness random and volatile price action inside the $55,724 to $73,777 range. Although it is difficult to predict the direction of the breakout from the range, long-term investors remain bullish. CryptoQuant data shows net outflows of roughly 45,000 Bitcoin from exchanges on Aug. 27, the third highest outflows.
In addition to Bitcoin, investors seem keen on accumulating Ether (ETH) though the price action has been subdued. Popular analyst Satoshi Sniper highlighted in his post on X that Ether whales had added 200,000 Ether worth roughly $540 million in the past four days.
Crypto market data daily view. Source: Coin360
