Bitcoin (BTC) is poised to end the week with losses, but there are positive signs for the bulls as the price has recovered from its weekly low and traders remain optimistic. Ki Young Ju, the CEO of CryptoQuant, predicts that inflows into Bitcoin exchange-traded funds (ETFs) will increase if the price approaches support levels. He expects buying to pick up if Bitcoin reaches $56,000. Additionally, the slowdown in outflows from the Grayscale Bitcoin Trust (GBTC) suggests that selling pressure may be decreasing. If Bitcoin ends March above $61,130, it would mark the first-ever seven-month winning streak.
The article also explores the price analysis of other cryptocurrencies. Dogecoin (DOGE) has been trading in a range between $0.12 and $0.19, with a break above $0.19 potentially leading to further gains. Toncoin (TON) has seen a surge in price, with a possible rally to $5.64 if the bulls maintain control. Stacks (STX) has broken above resistance at $3.40, indicating a continued uptrend. Fantom (FTM) has faced profit booking and selling pressure, but a rebound from the 20-day EMA could lead to a retest of $1.23.
Please note that this article does not provide investment advice or recommendations.