PANews reported on March 18th that, according to The Block, CryptoQuant stated that despite bullish signals in the derivatives market such as increased bullish PANews reported on March 18th that, according to The Block, CryptoQuant stated that despite bullish signals in the derivatives market such as increased bullish
CryptoQuant: Bitcoin's rally may face resistance in the $75,000 to $85,000 range.
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PANews reported on March 18th that, according to The Block, CryptoQuant stated that despite bullish signals in the derivatives market such as increased bullish positions, positive funding rates, and dominant buy orders ahead of the Fed's interest rate decision, Bitcoin may face resistance in the $75,000 to $85,000 range if the upward trend continues. Julio Moreno, Head of Research at CryptoQuant, pointed out that $75,000 corresponds to the lower bound of the trader's on-chain actual price, historically acting as resistance during bear markets; the $85,000 level corresponds to the trader's on-chain actual price, having acted as resistance in mid-January and last October. Meanwhile, the price surge has triggered large inflows of Bitcoin into exchanges, with 6,100 BTC flowing in per hour on March 16th, a new high since February 20th. Large deposits accounted for 63% of this, the highest since October 15th of last year, potentially creating selling pressure.
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