Will Bitcoin price be disrupted again?

Bitcoin (BTC) 83,700 dollars were dispensed during the early Asian hours on March 12, after reaching a decrease of $ 76600 on March 11, amid a slight improvement in market morale.

BTC/USD faces rejection from a level of $ 84,000 raises questions about whether the BTC price can decrease more during the next few days.

Bitcoin demand is still weak

The external flow on the Stock Exchange (ETF) has played a major role in lower BTC prices since late February, exceeding $ 1.5 billion in the past two weeks.

Related to: Why does Bitcoin rise today?

Meanwhile, Bitcoin’s apparent demand is still low, which means a decrease in risk appetite from potential investors, he said. Data From the Cryptoquant Market Company,

What do you know:

• The apparent demand is the difference between production and changes in stock.

• Production refers to the BTC mining version, while inventory indicates an inactive supply for more than a year.

• The apparent demand weakens if production exceeds the reserves.

• After a period of acceleration between November 2024 and December 2024, which was fueled by President Donald Trump’s victory, the clear demand from Bitcoin decreased from 279,000 BTC on 4 to 10,000 on February 26.

• On February 27, the negative scale turned for the first time since September 2024.

• It is currently -93,700 BTC at the time of writing this report.

• If this trend continues, the price may decrease, just as it happened in July 2024.

• The graph below shows that the clear demand for bitcoin was at similar levels on July 27, 2024, after which the BTC price fell by 30 % to $ 49,000 on August 5, 2024.

However, this scale does not always guarantee more negative aspect in the future. For example, it was also negative in late May 2024 and in late October 2024 before the price ranged by 7 % and 73 %, respectively.

Bitcoin evaluation hint when correcting deeper

Data from Cointelegraph Markets Pro and Tradingvief Bitcoin price offer 7 % trading higher than its four -month low level at $ 76600 reached on March 12.

Despite this recovery, many evaluation measures still tend to drop, indicating that a deeper correction is possible, according to Cryptoquant.

• The Bitcoin Bull-Bear market is at the “most quieter level” in this session.

• The bull/bear market cycle index is a momentum measure that measures the difference between the P&L index and its moving medium for 365 days.

• The values ​​above appear 0 that BTC is on the emerging market, while the values ​​below indicate the bear market.

• The current value of the -0.067 is at the lowest level since May 2023, when the bitcoin price began to have a continuous recovery.

• Meanwhile, the MVRV score rate exceeded less than the moving average for 365 days, indicating that the trend of upward price has lost momentum.

• The percentage of MVRV Z is a main scale used to assess whether Bitcoin is exaggerated in value or with less than its value.

“Historically, the evaluation measures at these levels indicated a sharp correction or the beginning of the bear market.”

Science tips bear in bitcoin at $ 68,400

From a technical perspective, the BTC price is traded within a declining continuous pattern indicating a possible correction in the future.

Main points:

• BTC is traded within the bear mark style, indicating the possibility of more from the negative side if the main support levels are not.

• The bear mark was developed after Bitcoin dropped from $ 92,000 to the lowest local level of $ 76600 between 6 and 11 March.

• The flag is unified in the Bear Trade BTC brand in an upward parallel channel, with critical support levels decreased today, including the lower limits of science at $ 82,000.

• The collapse of this level can lead to another price collapse.

• The negative target of bear science, derived from the previous decline, is about 68,400 dollars, which represents a 17 % decrease from the current price.

Meanwhile, Cryptoquant analysts say that if the current support area does not stick between $ 75,000 and $ 78,000, Bitcoin may decrease to $ 63,000.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.