After falling due to Donald Trump’s pricing plans, which caused an intense market for the market, Bitcoin makes a strong return. He is now approaching $ 100,000, his highest level since the end of February. But fears of a recession could slow this momentum unless the United States and China are soon starting to talk about prices. In addition, mixed chain signals could increase the volatility of the $ 100,000 level.
The metrics on the Bitcoin chain create a mixed feeling
The way in which the rates for Go discussions could play a big role in the question of whether the economy goes to a recession and in the place where the price of Bitcoin then goes. Many experts hope that commercial discussions in May will help calm economic concerns. However, Bitcoin could continue to climb even if a recession strikes. In the past 24 hours, around $ 34 million in Bitcoin exchanges have been closed. Buyers ended $ 8.5 million in posts, while the sellers had to close 25.4 million dollars in Paris against Bitcoin.
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Bitcoin approaches the $ 100,000 mark as investors’ confidence increases. In the past two weeks of April, large investors have bought about $ 4 billion in Bitcoin. At the same time, Spot Bitcoin and Ethers Ethereum had strong entrances, with more than $ 3.2 billion entering the market last week. Bitcoin ETF of BlackRock alone reported nearly $ 1.5 billion, its biggest weekly gain this year.
In addition, Bitcoin Netflow is currently negative of $ 39.79 million, which means that more bitcoin is far from the exchanges than from them. This suggests that more investors choose to store their bitcoin in private wallets instead of maintaining it on exchanges. It is a sign that people keep their parts, which can reduce sales pressure and support Bitcoin recovery.
However, Bitcoin risks a “notable increase” of sales pressure around $ 100,000. Glassnode warns that if the Bitcoin price continues to go up, long -term holders could start selling. Their profits are now close to 350%, a level where they have generally sold in the past. If Bitcoin crosses $ 100,000, it could trigger a wave of sales of these older investors.
What is the next step for BTC Price?
Buyers cross the FIB levels and they continue to maintain the price above EMA trend lines. The bears now defend any other overvoltage greater than $ 98,000 while the BTC was faced with a rejection recently. During the editorial staff, the BTC price is negotiated at $ 97,182, which has increased by more than 0.7% in the last 24 hours.
The mobile average increased from 20 days to $ 96,892 and a solid RSI suggests that Bitcoin always has room to go higher. If it exceeds $ 99,500, the price could quickly go to the key level of $ 100,000. The sellers will probably put a solid fight there, but if buyers succeed, Bitcoin could reach around $ 103,000.
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On the other hand, sellers can try to bring the price back to the 20 -day mobile average, which is a significant level of support. If Bitcoin bounces there, the upward trend remains strong. But if it falls below, it could drop more towards the average of 50 days to $ 92.8,000.
