Bitcoin Derivatives Flow Shows Early Signs of Market Turnaround

Recent on-chain data indicates a potential turnaround in the Bitcoin Inter-exchange Flow Pulse (IFP), suggesting increased movement of tokens into derivatives platforms.

Key Points

The Bitcoin IFP measures BTC flow between spot and derivatives exchanges. An increase suggests rising speculative interest, while a decrease implies reduced risk-taking.
The IFP recently hit a low but is showing signs of recovery, indicating renewed speculative activity as Bitcoin's price sees a recovery surge.
The metric remains below its 90-day moving average (MA), which historically aligns with bear markets or corrections. A crossover above this MA could signal bullish momentum.
Bitcoin's Open Interest on derivatives exchanges has risen by 3.2%, reflecting increased speculative positions as highlighted by analyst Maartunn.

Bitcoin Price Update

Bitcoin's price dropped from $95,000 to $91,200 over recent days.