Bitcoin is traded without a sign of $ 100,000 after a group of a week, and it features severe fluctuation and continuous sale pressure. Last Sunday, the cryptocurrency faced severe disturbances on the market, as it decreased more than 9 % in less than 24 hours. While BTC was able to recover on Monday, the sale pressure is not calm, leaving the market unarmed for its next direction.
Amid this troubled price procedure, the main scales highlight the cash relationship between Bitcoin’s performance and demand growth. Giulio Moreno, head of Cryptoquant Research, shared common visions about X, and revealed that Bitcoin price returns are closely related to the demand growth. Moreno stressed that the slowdown since early December has been directly related to the decreasing returns, which confirms the decisive role of the market participation in maintaining the upscale momentum.
This observation highlights the current situation of the market, as the decrease in the appetite of speculation and the weakening of the situations learned in the volatile price movement contributes. While bitcoin hovers under the brand of $ 100,000, bulls and bears are held in a battle for control, as demand grows as a pivotal factor in determining the course of the cryptocurrency. With the market participants closely monitoring these dynamics, the coming days can be crucial for BTC expectations in the short and long -term term.
The low demand for bitcoin, with investors feared to correct
Bitcoin has faced great fluctuations and sale pressure since the beginning of February, as it sent ripples via the broader encryption market. Altcoins and Meme Coins, which are often more at risk during landing trends, have seen more severe declines in prices, which increased uncertainty among investors. Analysts are increasingly indicating a possible correction, referring to tired bulls and price currencies that indicate more declines.
Moreno presented Main visions on xLink the performance of the bitcoin price directly to the demand for growth. According to Mourino, Bitcoin’s return is closely returning to the path of demand growth.
Since early December, demand growth has been slowing, which is in line with the weakening of the momentum in the Bitcoin gains. Moreno emphasizes the importance of monitoring demand growth as a decisive indicator to predict the next Bitcoin gathering.
Currently, the Bitcoin price hovers about 96 thousand dollars as Bulls struggles to restore and keep the psychological brand. This level is not just a decisive point of resistance, but also a major factor in determining the morale of the short -term market.
Without the outbreak of $ 100,000, BTC remains vulnerable to additional sale pressure and a potential decrease in the demand areas. However, restoring this level and keeping it as support would indicate a transformation in momentum, which paves the way for a possible purpose.
BTC price shows frequency
Bitcoin is currently trading at $ 96,700 after several days of side work between $ 100,000 and 95600 dollars. The market looks stuck in a scope, with no short -term direction as bulls and bears are struggled for control. Bulls lost their grip on the momentum after the price dropped below the level of $ 100,000 last Tuesday, and they have not been able to restore it since then.
The lack of the bullish movement raised concerns among investors, as Bitcoin’s inability to break $ 100,000 may indicate increasing twice in the market. Meanwhile, the bears were applied to fixed pressure, but they have not yet assumed the price less than the decisive support level of $ 95,000.
If Bitcoin decreases to less than 95 thousand dollars in the coming days, it is possible that more decrease in the demand zone of $ 90,000 will decrease. This would represent a major declining step and can increase the pressure pressure with investors caution against deeper correction.
However, if the BTC is able to maintain its position above 95 thousand dollars, there is still a possibility for bulls to restore strength and pay the price towards a sign of $ 100,000. Currently, the market remains uncertain, and traders closely monitor these main levels of the next main step marks.
Distinctive image from Dall-E, the tradingView graph
