{"id":17401,"date":"2023-03-15T08:49:16","date_gmt":"2023-03-15T08:49:16","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/4-signs-the-bitcoin-price-rally-could-top-out-at-26k-for-now\/"},"modified":"2023-03-15T08:49:19","modified_gmt":"2023-03-15T08:49:19","slug":"4-signs-the-bitcoin-price-rally-could-top-out-at-26k-for-now","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/4-signs-the-bitcoin-price-rally-could-top-out-at-26k-for-now\/","title":{"rendered":"4 signs the Bitcoin price rally could top out at $26K for now"},"content":{"rendered":"
Bitcoin (BTC) received a substantial boost this week as United States\u00a0inflation levels for February\u00a0were in line with market expectations. On March 14, the BTC\/USD pair surged to a 2023 peak at $26,550 after the news.<\/p>\n
But, while the macroeconomic conditions may currently favor risk-on buyers, certain on-chain and market indicators hint at a potential correction in the near term.<\/p>\n
On March 13, Glassnode\u2019s exchange flow data recorded the most significant inflow to exchanges since May 2022. This means more supply on exchanges and potentially higher selling pressure.<\/p>\n
The coin days destroyed indicator, which measures the time-weighted transfers of Bitcoin, also shows a small spike, indicating that old hands are moving coins. The indicators might signal profit booking by long-term holders, which can lead to a correction.<\/p>\n