Bitcoin futures and spot ETF traders capitulate as BTC looks for a bottom
Spot Bitcoin ETF outflows reached $3.4 billion in February, but one analyst says multiple data points suggest BTC is on the verge of a price reversal.
Bitcoin’s (BTC) daily chart registered a bearish three-blind mice pattern over the past three days, taking BTC’s value outside the long-term established range between $110,000 and $90,000.
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
Over the past 24 hours, Bitcoin tested the fair value gap, but BTC has struggled to establish bullish momentum from the $82,000 range low.