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Bitcoin Monitor: Trading Volumes Lag Price Rebound
Bitcoin has gained more than 20% from its early February low, climbing above its 50-day moving average and testing the $78,000 level. But a look at investment flows reveals that while the price is slowly recovering, many investors who exited during the roughly eight-month decline remain on the sidelines. Money is flowing back into bitcoin exchange-traded products (ETPs), and the 30-day moving average of daily ETP net flows (inflows minus outflows) shows volumes are currently trending higher, according to data from Glassnode. That's a reversal from the nearly uninterrupted net selling that took place from early ... (full story)