Main takeout:
Bitcoin Price MetRics show profits and strong support for nearly $ 96,000 to $ 104,000.
We will reset the market with overheated interest and disadvantages of $ 3.7 billion and prepare to rebound the BTC.
Bitcoin (BTC) has decreased by 4.50% per share and can be visited by $ 100,000 for the next few days, but according to data, long -term transactions below this level can be limited.
In the recent post, Cryptoquant shows a medium benefit at the current level of NRADIZED Profit/Loss, which tracks profits and losses in B -bitcoin transactions. This activity is noteworthy, while it is significantly lower than the spikes found in the Cycling Peak in March and November 2024.
Each period is indicated by the intense selling selling of the market tower, but the recent profit generation is relatively limited and the market is not overheated. This suggests that the upward trajectory of Bitcoin is far from exhaustion.
If Bitcoin falls to less than $ 100,000, another major metric that supports prompt bounce is a short -term realization price of $ 96,000. This metric shows the average price that recently traded Bitcoin is acquired, acting as an important support level.
If Bitcoin drops to less than $ 100,000, the level of $ 96,000 acts as a floor, which can attract buyers and limit the shortcomings. Historically, Bitcoin has not been maintained at a lower price than a long -standing price for an optimistic cycle, reflecting the company’s ownership and market demand.
The encryption merchant Altcoin Sherpa suggested that the current market conditions have been primary to restore prices. Emphasizing the main support area between $ 102,000 to $ 104,500 before the BTC has previously rises, the trader expects a bounce to push Bitcoin to more than $ 107,000 next week.
Similarly, Crypto’s technical analyst TITAN pointed out that BTC is approaching major technical support. The merchant
“BTC returns to Daily Kijun ~ $ 102,700. This area was previously held and could act as a solid foundation for the next movement.”
Related: Price prediction 5/30: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link
$ 3.7 billion Bitcoin revealed and Wife Out reset the market.
BTC prices have experienced $ 3.7 billion in Bitcoin’s Future Open Interest (OI) as the BTC price drops from $ 108,000 to $ 104,500. This can be considered a healthy market because it reduces market happiness by reflecting the liquidation of excessive location.
High OIs often indicate excess transactions and can amplify volatility. When a slight drop in prices induces a significant number of liquidation, as described above, the speculative position stabilizes the market.
Related: How low can Bitcoin prices go?
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.