Julio Moreno

Bitcoin fell to $62,000, trimming a rebound from last week’s $57,700 low to $64,000. CryptoQuant’s report suggests potential for further gains despite a bear-market context, citing seasonal trends and improving demand metrics.

Bitcoin exchange inflows surged to 49,000 BTC in a day, with similar patterns historically preceding price declines. Ethereum inflows exceeded 1.25 million ETH, and altcoin deposits hit a two-month high, yet Bitcoin's price rose above $60,000 despite the data. The report highlights large deposit sizes as a bearish signal, but macroeconomic factors like Fed commentary influenced the recent price rebound.

Bitcoin's price has reached a 3-month high, but analyst Julio Moreno believes it remains in a bear market. Despite this, profit-taking may accelerate. The short-term price recovery is noted by CryptoQuant analyst Julio Moreno.