⚠️UPDATE 🌐 #Bitcoin $BTC was rejected from MA 100 and Ichimoku cloud. The price remains above horizontal support. A strong breakout of the Ichimoku cloud will signal bullish momentum.
Foreign exchange reserves continue to fall, indicating easing selling pressure.
Net deposits on exchanges are low compared to the 7-day average. Smaller deposits can be interpreted as lower selling pressure.
Buying sentiment prevails in the derivatives market. More buy orders are executed by takers.
Investors in funds and trusts, including Grayscale, have relatively strong buying sentiment.
⚠️ Comment
#Bitcoin Network fundamentals could support a market cap of three times its current size from the last cyclical high, potentially supporting the $265K price.
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