Davie: Contract Fund Flow Warms Up, Spot Market Yet to Strengthen

According to Twitter user Davie, the contract market has seen a significant inflow of funds in the short term, with $3.5 billion flowing in within 4 hours and reaching $7.6 billion in 24 hours, indicating that short-term bulls are testing the waters. However, the spot market has still seen a net outflow of $824.4 million in 24 hours, suggesting that the spot side has yet to strengthen. The market is currently in a sideways consolidation phase, with many false breakouts. It is advised to operate cautiously until the spot funds turn positive consistently. The key levels for Bitcoin are resistance at $83,500 to $84,300 and support at $82,700 to $82,300.

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