Bitcoin Inter-Exchange Flow Pulse Declines, Threatening Bullish Momentum

Bitcoin's recent market activity suggests a potential loss of bullish momentum:

Bitcoin (BTC) experienced a significant sell-off, nearing $100,000.
The Inter-Exchange Flow Pulse (IFP), an indicator of liquidity movement between exchanges, is trending lower, suggesting reduced inter-exchange activity.
Lower IFP readings indicate challenges in executing arbitrage due to thinner liquidity and higher latency, reducing profitable trading opportunities.
Liquidity remains in the market but circulates less actively, slowing market dynamics.

The recent crash on October 9 led to the largest single-day liquidation in crypto history, amounting to $19 billion. Despite this, some analysts believe Bitcoin may still reach a new all-time high. Currently, Bitcoin is trading at $111,731, down 2.3% in the last 24 hours.