$BTC Bitcoin has fallen 5% in the last week, currently trading around $93,000, below the key level of $100,000. Despite the decline, there has not been a significant wave of selling, indicating that bullish sentiment remains strong. Many investors expect the price to recover its previous level in the short term.
Data from CryptoQuant shows net outflows of BTC from exchanges of over $2.5 billion in the last week, suggesting that investors are moving their assets to private wallets, typically a sign of positive expectations. This trend could reduce selling pressure, generating a potential upward momentum in prices.
Additionally, the funding rate in perpetual futures markets, currently at 0.0081, indicates an optimistic market sentiment, as long positions are paying shorts, reinforcing the expectation of a rise in the price of Bitcoin.