Bitcoin has stolen over the past 4 days, with a $ 96,500 on February 9. Charles Edwards, a prominent market analyst, hinted a potential sale, a step that can tend to BTC prices next week.
Bitcoin (BTC) enters the recession for 4 days as resistant to install the bears at 97 thousand dollars
Bitcoin (BTC) began a slow start until February 2025, as the opposite winds of the declining macroeconomic economy were, as the turmoil of the US -led US -led trade war was highly weighing market morale.
In the wake of a preliminary reaction to the knee, it led to more than two billion dollars in the encryption qualifiers, BTC markets found a temporary reduction on Thursday, February 6, and settled around the level of support of $ 96,000.
However, while the main altcoins such as Binance Coin (BNB) and Solana (SOL) has recorded great gains in recent days, Bitcoin has been stagnant since February 6.
The shaded part of the above chart shows the BTC price, which is integrated into a narrow range of $ 100,000 – 95,000 dollars throughout the past four trading sessions, indicating that there is no frequency among the market participants.
Despite the support of a flexible buyer near 96,000 dollars, the outbreak of the resistance of $ 97,000 has remained out of reach, raising fears of a possible reflection if the pressure intensifies.
The founder of Capriole Investments refers to Miner Sell-FF, amid the defeated BTC price.
When the important assets such as BTC such as BTC are behind the bullish direction in the broader market, it often indicates an active internal decline. Support this theory, Charles Edwards, founder of Capriole Investments, A mark has been placed An important mine sale occurred as a possible reason behind Bitcoin stagnation.
“Bitcoin workers surrender! A new surrender has started.
We all know what to do so when you follow the signal of the retail purchase in the end … a lot can happen from time to time. But we enter a window of opportunities. “
- Charles Edwards, founder of Cabriol Investments
The retail index, which is a good scale on the chain, determines the surrender periods based on the dynamism of the retail rate. Historically, when the Bitcoin retail rate decreases sharply, it indicates that miners are struggling with profitability, which often leads to sales during BTC detailing to cover operating costs.
While mining workers surrender usually precedes long -term recovery, it can stimulate the short -term price procedures.
Miners’ reserves drop additional sale signals
More support for bitcoin price expectations, Metic Metic InTotheblock highlights a sharp decrease in BTC’s bodies between mining entities.
This indicator tracks the daily changes in the college Bitcoin assets held in the governor -controlled governor and mining gatherings, providing an insight into a mining activity.
Between February 4 and February 8, MINER reserves fell from 1.94 million BTC to 1.91 million BTC, representing an external flow of about 30,000 BTC – equivalent to approximately $ 3 billion at current market prices.
This level of sales pressure is great, as it exaggerates short -term market supply, which may restrict bitcoin.
Historically, large sales of mines coincided with stagnation of prices or temporary declines, as the excess supply exceeded the current supply. If miners continue to empty the reserves of this scale, Bitcoin may struggle to maintain the support level of $ 96,000, which increases the risk of deeper withdrawal about 94,500 dollars or less in the upcoming sessions.
Although long -term holders may see miners surrender as an opportunity to buy, the immediate expectations for Bitcoin are still unconfirmed. If the pressure from miners is declining and running Bitcoin continuously over $ 97,000, the trend of renewed rise may appear. However, the failure to do so can see that Bitcoin extends its current stagnation or even sliding to the short -term downward trend.
With the presence of Bitcoin at a critical turn, traders and investors will closely monitor the activity of miners and develop the total economy for more directional signals.
Related questions (common questions)
Bitcoin is integrating within a narrow range due to the resistance at $ 97,000 and the mining of the recent mines that have increased the market supply, which stopped the bullish momentum.
When miners sell large amounts of BTC, it adds a large offer to the market, which may lead to low prices if the demand does not absorb excess liquidity.
The retail indicator indicates the surrender periods from miners. The decline indicates that miners are under pressure, and a short -term declining price is often preceded.
Ibrahim
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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