Bitcoin has experienced a notable withdrawal since he reached his top of all time earlier this year. The cryptocurrency fell below $ 110,000 briefly, which raises concerns of sustained bearish pressure.
However, current data suggest that movement was more a short -term fluctuation than the start of a prolonged downward trend, alluding to the recovery potential.
Bitcoin is secure
Risk signals on the Bitcoin market are working. According to Bitcoin Vector, the risk signal withdraws, moving to a low risk diet. This change suggests that market conditions stabilize after weeks of volatility.
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At the same time, Bitcoin freed himself from a price compression which was in place for the highest $ 124,500. The recovery of $ 110,000 has confirmed the end of this compression area. With weakened resistance, the BTC now has room to move higher, increasing the chances of recovery in the coming weeks.
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The data on the chain support this perspective. Of the 19.91 million BTCs in circulation, only around 2.73 million parts are currently lost. This represents only 13.71% of the offer, well below the threshold historically associated with the lower markets, where losses generally extend above 50% of the circulating bitcoin.
This indicates that Bitcoin is far from the country’s territory. Despite recent price reductions, the vast majority of holders remain in profit, which shows resilience. The limited loss offer reflects a strong conviction for investors, suggesting that BTC has a solid base to withstand sales pressure and maintain a dynamic in the high -term.
BTC price to continue its increase
Bitcoin is negotiated at $ 111,600 when writing the editorial’s time, a little less of the resistance of $ 112,500. The assets rebounded at $ 108,000 earlier this week, showing renewed force. Holding above $ 110,000 offers stability, giving BTC the basis it needs to try to cover more and more compared to the market pressures in force.
If the current momentum holds, Bitcoin is likely to continue to climb. An escape greater than $ 112,500 could open the way to $ 115,000, strengthening the bullish feeling. This decision would confirm the improvement of the market structure and would signal an attempt to take over renewed.
However, risks remain if the sale of pressure reappears. If Bitcoin fails to maintain the momentum, a drop to $ 110,000 is possible. In a more in -depth correction, the price could review $ 108,000, which has raised concerns among investors concerning potential short -term weakness.
