Why Bitcoin Price Rallied From $65,000 To $74,000 — Analyst Gives ‘Real Reason’
Bitcoin's recent rally from $65,000 to over $74,000 is attributed to significant outflows from Binance, according to a CryptoQuant analysis by Burak Kesmeci. The 30-day simple moving average of Bitcoin exchange outflows indicates that approximately $55 million worth of BTC has been leaving Binance daily, signaling strong accumulation and growing long-term investor confidence. This persistent demand, reflected in the declining netflow, has supported Bitcoin's price strength even amid global equity market declines and geopolitical tensions. At the time of writing, Bitcoin trades around $70,620.
bitcoinist03/22 00:31
