Ranging weekend for Bitcoin and Ethereum as ‘bearish’ inflows threaten market recovery
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Bitcoin and Ethereum fell back down to lower supports followed by weekend volatility.
Rohan Jethi · June 27, 2021 at 8:00 pm UTC · 2 min read
Bitcoin and Ethereum prices fell by almost 15% going into the weekend as BTC faced rejection at the $35,000 region once again.
CryptoQuant, a popular on-chain data analysis tool for cryptocurrencies, pointed out a concerning number of inflows of Bitcoin into exchanges during the weekends. Large numbers of inflows are often seen as a bearish sign and ‘bears’ take advantage of such movements and drive the price lower.
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