Bitcoin rallies expected to be short-lived until liquidity returns: Data - Source: CoinTelegraph

Bitcoin bulls managed to prevent a price drop into the $80,700 to $83,400 support zone, and futures market data points to a potential short-term liquidity grab near $93,500. Despite the short-term bullish bias, Glassnode analysts say a more robust recovery cannot take place until a key market liquidity metric reaches a certain threshold.

Key takeaways:

• -Over 22% of the Bitcoin supply is currently held at a loss, increasing sensitivity to support breaks.

• -BTC inflows to Binance remain near 2020 lows, limiting immediate sell pressure.

Story continues: https://cointelegraph.com/news/bitcoin-rallies-expected-to-be-short-lived-until-liquidity-returns-data