Bitcoin holders remain flexible: profits that exceed losses with only one major panic in September 2023
Bitcoin has seen defeated price procedures over the past few days, which ranges between 94,700 dollars and 98,500 dollars since last Friday. This deficiency in fluctuation added to the speculative environment, as bulls and bears are struggled for decisive control of the market. While the bulls failed to pay the price higher than the $ 100,000 sign, the bears were not equally capable of pulling the BTC to less than 94,700 dollars, while maintaining the price closed in a narrow range.
Cryptoquant Axel Adler has shared the keys that provide valuable visions in the unique characteristics of this course. Adler pointed out that during this session, there was only a sale of the main panic only in September 2023. After this event, holders of profits were more than losses, indicating that the market is more driven by achieving more control profits than Selling panic widely.
This behavior is directed towards profit on a relatively stable cycle despite the current uncertainty. It also notes that long -term whales and whales are still confident of the Bitcoin capabilities, even if the short -term trend is still unclear. If BTC is able to get out of its current range, the price may be either re -testing the 90,000 dollar support area or paying $ 100,000 to test the higher supply levels. Until then, the speculative environment is expected to continue as merchants are waiting in a clear signal.
Bitcoin Bull is still stable
Bitcoin continues to lead the market amid constant fluctuations and uncertainty, which indicates resilience while most Altcoins struggle under the pressure of sale. Despite the challenges, BTC maintained higher strength than decisive demand levels, as Bulls succeeded in paying the price above the 95,000 dollar sign. This stability kept the broader bullish structure intact, even as the procedure remains in the short term insecure.
The short -term market direction is still unclear, as BTC fluctuates within a range, and the volatility dominates daily trading activity. The bulls face the decisive task of recovering the level of $ 100,000 to re -establish the momentum, while the bears are equally capable of paying the price below the main support levels. The tension of the rope reflects this broader environment in the market, as Bitcoin’s dominance provides a sense of stability compared to the troubled altcoins.
The main standards of Cryptoquant, shared by the analyst Axel Adler on XHighlighting a distinctive feature of this course. Adler notes that there was only one major panic in September 2023. Since this event, holders have achieved profits more than losses, showcasing the market flexibility and maturity. This data supports the current bull cycle, even amid price fluctuations.
While holding large losses and long -term confidence in the properly, Bitcoin suggests a room for growth in the coming months. However, penetration of the main resistance levels and maintaining demand in the current support areas will be it is very important in determining the next station of this course. As Altcoins continues to struggle, Bitcoin’s ability to terrestrial parking is as anchor of the market amid uncertainty. The coming weeks may reveal whether this stability can be translated into outbreak or whether monotheism will continue.
Decisive liquidity levels test
Bitcoin is trading at $ 95,800 after several days of frequency, with price procedures limited to a narrow range ranging between 95 thousand dollars and 98 thousand dollars. The lack of the movement highlights the constant conflict between bulls and bears, as none of the two sides was able to control the market. This long monotheism indicates that the tremendous step can be on the horizon.
For bulls, restoring the $ 100,000 sign is the key to igniting a new rare. The successful batch above this embarrassing psychological level is likely to increase an increase in high levels at all (ATH) and can put the way for another ascending stage. This would strengthen the current upper structure and restore confidence among investors who were waiting for collapse.
On the other hand, the loss of the 95,000 dollar sign would indicate a possible weakness, which opens the door for BTC to re -test the low demand areas around the level of 89 thousand dollars. Such a step can lead to increased pressure, putting bulls in a difficult position to defend the upward trend in the market.
With a movement of prices in a narrow range, the market remains speculative, and the fluctuation is likely to return soon. Traders closely monitor a penetration process in either direction, which will determine the Bitcoin path in the short term.
Distinctive image from Dall-E, the tradingView graph
