The main dishes to remember:
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Bitcoin has formed a downward engulfing candle, indicating a potential short -term exhaustion.
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The minors’ position index has reached its highest level since November 2024, and high records.
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Despite the sale of panic, more than 196,600 BTCs accumulated in the range of $ 116,000 to $ 118,000, strengthening the bullish feeling of traders.
Bitcoin (BTC) has printed its first noticeable low -cost signal on the daily graphic since early May, forming a downward engulfing candle confirmed by a motif of a shooting star. This occurs after a 19% rally in the past 21 days, perhaps reporting exhaustion.
Cryptory data stressed that the minors’ position index (MPI) has increased above 2.78, its highest level since November 2024. The MPI measures how many bitcoin minors send to exchanges compared to its one year average. High reading suggests an increased probability of selling. Although this can add a short -term pressure, the peak remains well below the levels generally observed near the heights of the Haussier market.
Adding to this prospect of prudence, the profit and loss made (P&L) of the BTC deposits with centralized exchanges reached a summit of $ 9.29 billion, signaling an aggressive profit. Crypto Crazzyblockk analyst explained that these metrics indicate a high -risk area where short -term volatility can intensify, even if the wider optimistic trend remains intact.
Meanwhile, the Hyblock Capital commercial platform noted that Bitcoin Open Interest “approaching sparkling levels”.
“Historically, when it happens [and] The index of fear and greed is in “extreme greed” territories -> We obtain local summits and corrections. These bright red reflections are found when the two conditions occur. Historically, these take place on much longer deadlines, so do not rush immediately into a trade. »»
Related: Bitcoin digests us
Is it time for Bitcoin holders to panic or make patience?
The recent drop in Bitcoin has launched a wave of panic sales, with nearly 50,000 BTC unloaded at a loss within 24 hours, according to Bitcoin Axel Adler Jr. This strong reaction underlined the anxiety of investors after the BTC decline in recent peaks.
However, the data suggests that the decline has encountered a greater purchase interest. The distribution of Bitcoin costs from the distribution of the Heatmap distribution shows that investors have accumulated more than 196,600 BTCs, worth more than $ 23 billion, between $ 116,000 and $ 118,000. Thus, despite the signs of sale focused on fear, the substantial purchase highlights the confidence and the condemnation of the continuous market in the longer -term trajectory of Bitcoin.
From a technical point of view, Bitcoin remains firmly in its upward long-term structure as long as it is consolidated above $ 112,000. After a rally of 19%, a period of lateral movement or a minor withdrawal is a healthy reset, allowing the market to cool, eliminate the excess lever and shake the lower hands.
Although the recent lower swallowing scheme can point out a short -term exhaustion or a potential reversal, it does not yet invalidate the wider rise. As long as key support levels have about $ 112,000, the probability that BTC will resume its momentum remains high.
Related: Bitcoin ‘not yet in Peak’: look at these BTC price levels following
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
