Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
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Bitcoin bulls appear ready to make a run at the 200-day SMA, which could pull BTC price toward $92,000 and reinvigorate altcoins.
Bitcoin (BTC) has largely stayed above $80,000 since March 11, indicating that the bulls are not waiting for a deeper correction to buy. However, the failure to propel the price above $86,000 shows that the bears have not given up and continue to sell on rallies.
CoinShares’ weekly report shows that cryptocurrency exchange-traded products (ETPs) witnessed $1.7 billion in outflows last week. That takes the total five-week outflows to $6.4 billion. Additionally, the streak of outflows has reached 17 days, marking the longest negative streak since CoinShares records began in 2015.
Daily cryptocurrency market performance. Source: Coin360
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