Bitcoin (BTC) Recent reports show that they are just before the decisive market time and have more than $ 92,500 to maintain optimistic propulsion. Glass node.
This report emphasizes the similarities between the current price structure and the previous cycle peak, and the pressure on the risk of potential drops will be weak.
Supply conditions and historical patterns
The main indicator of the vulnerability of Bitcoin is the supply held by the short -term holder (STH) in May 2021, reflecting the patterns found in May 2021. During this period, similar accumulation trends are priced. Increasing the sensitivity of Korea, causing a large distribution event.
Bitcoin’s current price is from $ 1,000 to $ 5,000 from $ 92,500 based on STH costs. This level acts as a historically important pivot point, indicating the boundary between the bull and the bear trend.
If Bitcoin falls below this critical price, the report is reminiscent of previous ALLE-Time-HIGH (ATH) modification in May and November 2021 and warns of cascades on sales pressure reminiscent of last year’s February and April last year. do.
Past corrections have followed a familiar pattern. It is followed by the integration stage of selling rally and supply density spikes and pressure mounts on price discovery.
According to historical data, Bitcoin can now return to the lower band of the $ 71,600 STH cost reference model.
The report adds that if Bitcoin violates the $ 92,500 threshold, panic sales among short -term holders can accelerate the loss. On the contrary, if the demand is strongly maintained, the BTC can stabilize ATH or more and set a new transaction range to delay the risk of further decline.
Derivatives appraisal
The market propulsion is disappearing, reflecting the reduction in the open interest and permanent future funding rate.
Bitcoin and Ethereum (ETH) financing rates are slightly positive, while Solana (SOL) and Memecoins are converted into negative funds, indicating transition to risk emotions.
Interested interest (OI) contractions in the place where Memecoins’ OIs are 52.1%dropped. In comparison, Bitcoin’s OIs decreased by about 11.1%.
The rapid decline in Memecoin OI emphasizes the rapid retreat of reasoning capital, suggesting that traders end dangerous bets as market uncertainty increases.
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