Analysts at top-US-based crypto exchange Coinbase say that fading downside pressures could create healthier market conditions for investors.
In a new analysis, Coinbase says that many factors dampening Bitcoin (BTC) and the broader digital assets industry – such as liquidations by bankrupt crypto exchange FTX and the financial troubles of crypto lender Celsius – are clearing up, paving the way for a better trading environment.
“Many technical factors pressuring Bitcoin specifically (and crypto more broadly) are starting to be exhausted, in our view. This is evidenced by the liquidations at FTX (disposing of their Grayscale Bitcoin Trust shares, for example) as well as the emergence of some large defunct entities from bankruptcy.
Indeed, net inflows into US spot Bitcoin ETFs (exchange-traded funds) have averaged more than $200 million daily over the last week (taking the total net inflows to $1.46 billion since…
