JAKARTA - Since experiencing a sharp decline to the level of US$49,000 (Rp757 million), Bitcoin has begun to gradually recover. However, this movement has stalled several times on the moving average (MA) 50 line or resistance zone at US$62,000 (Rp958 million).
However, the Financial Expert of Crypto, Panji Yudha explained that Bitcoin still has bullish potential to the level of $64,000 if BTC manages to pass the MA-50 which is around the level of $61,000.
"On the other hand, if the support at 57,000 US dollars (Rp881 million) is breached, Bitcoin can return to its lowest level this month at 49.00 US dollars (Rp757 million)," Panji said in a statement received on Tuesday, August 20.
On the other hand, Bitcoin Spot's ETF recorded a total net inflow of $32.4 million last week. This product recorded four days positive from five trading days, with the only daily net outflow reaching $81.4 million on August 14.
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Meanwhile, Ethereum Spot recorded a total net outflow of US$14.16 million last week, after previously closing the week with a total net inflow of 104.76 million US dollars.
According to Panji, with Bitcoin movements that have tended to sideways over the past week, altcoins have experienced positive momentum.
Several altcoins with the highest increase in the past week were ThorChain (RUNE) which rose 25.12 percent to 3.90 US dollars (Rp60.3 thousand), Aave (AAVE) which rose 22.90 percent to 111 US dollars (Rp1.7 million), and Fantom (FTM) which rose 18.72 percent to 0.389 US dollars (Rp6 thousand).
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