"Bitcoin Shows Bearish Signals, Short-term Decline Possible"

Son Min

Summary

Bitfinex stated that "Bitcoin is currently moving sideways without clear direction, indicating a possibility of a short-term decline."
As Bitcoin's Inter-Exchange Flow Position (IFP) turns bearish, they reported that the market could turn bearish when large amounts of Bitcoin move between exchanges.
They added that as Bitcoin establishes itself as a mature asset, investor attention is focusing more on Bitcoin than altcoins.

Analysis suggests bearish outlook for Bitcoin (BTC).

According to CryptoPotato on the 18th (local time), Bitfinex reported that "Bitcoin is currently moving sideways without clear direction," adding that "the Inter-Exchange Flow Position (IFP) has turned bearish, suggesting Bitcoin could decline in the short term."

IFP is an indicator that tracks the flow of Bitcoin between spot exchanges and derivative exchanges to identify bullish or bearish market signals. When large amounts of Bitcoin move from derivative exchanges to spot exchanges, it suggests a bearish market outlook.

Furthermore, they noted that "while Bitcoin has experienced a slight decline recently, altcoins have seen sharp drops," indicating that "the price correlation between Bitcoin and other cryptocurrencies is disappearing." They added that "Bitcoin is becoming a more mature asset closely linked to macroeconomics," and that "most investors are turning their attention to Bitcoin rather than altcoins."

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