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CoinKarma data indicators show that market whale have been actively accumulating positions at this level recently, with multiple market factors simultaneously generating buy signals.
Last week, the price rebounded to a high of nearly 98K. At the same time, we observed that when the price rose to around 98K, there was significant selling pressure in the market. Currently, the price has fallen back to a low of 87K. At this level, we observed that the market whale, Bitfinex whale, is actively building positions at a rate of approximately 2 million USD per hour, and several market factors have also shown buy signals.
The following analysis will use Bitfinex whale spot leveraged positions and the Market Pulse Index as a composite indicator:
✳️ Bitfinex BTCUSD LONGS: Total BTC spot leveraged positions on Bitfinex (coin-margined).
✳️ Market Pulse Index: A weighted average of 11 metrics from CoinKarma.
As shown in the chart, whenever Bitfinex BTCUSD LONGS and Market Pulse Index resonate within this range, it represents a relative low point in this range. Currently, Bitfinex whales are actively building positions at this level. The Market Pulse Index, which comprehensively presents multiple factors within the market, has also generated buy signals. With the two resonating again, there is a high probability that the market will rebound in the future.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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