Bitcoin (BTC) rose again to $ 105,000, by paying it to reduce geopolitical tensions in the Middle East; However, a more merit of observation is under the surface: the market has absorbed a huge wave of profits without collapse.
About 720,000 BTC, which was mainly sold by new buyers since mid -April, has been met with a strong demand, which prevents a larger plane crash despite an increase of $ 66 billion in the maximum script of metal currencies for a period of less than one month.
The profit of profit brings a new request
According to the analyst in the series, Axel Adler Junior, the 66 billion dollars in the maximum range of the regiment from 0 to month since April 13 is a final evidence of profit on a wide range by its owners in the short term.
While this aggressive sale usually leads to a large side and land, Ader has highlighted a decisive counter force: the new buyers who enter the market steadily have been absorbed this huge supply.
He has opinionThis compensation has kept bitcoin trading in a relatively narrow range in the past few weeks.
However, the UTXO profit/loss model indicates that the profit frenzy may have been calmed down, as it decreased from 34,000 points near the highest level in BTC ever in May to only 216 points today.
“The profitable sales have almost disappeared,” male Adler, while the percentage of investigation transactions increased loss. The most likely explanation is that the wave of enthusiastic sellers has passed largely, and is replaced by buyers accumulating at lower levels, which reduces the risk of a severe accident.
Meanwhile, global markets suffer from a feeling of comfort thanks to an unexpected ceasefire between Israel and Iran. US President Donald Trump confirmed a “complete and comprehensive” stop for hostility, which reduced fears of the deeper conflict.
Next, investors such as Daan Crypto Trades and Michaël Van De Poppe have echoed cautious optimism on X, noting that low geopolitical risk can reduce the fluctuations that depend on the title and help Bitcoin restore upward momentum.
What is the following for Bitcoin?
In fact, BTC has organized a remarkable recovery since it declined below 100,000 dollars after the United States fired air payloads against many Iranian nuclear facilities last week. From writing these lines, the King’s cryptocurrency increased by 3.8 % in the past 24 hours to hover about 105,400 dollars after it rose to $ 105,927 during the Asian trading session.
On a weekly scale, it remains a little underwater, a decrease of about 1.1 %, which is modest of performance weak compared to an increase in the wider encryption market by 0.4 % during the same period.
The assets have also seen a 1.7 % slight decline over the past thirty days, reflecting the modern liquidation waterfalls and historical opposite pioneers. Also, the analyst Benjamin Quinn has previously highlighted, bitcoin is often struggling during the summer months. The previous bulls witnessed very declining decreases between 25 and 35 % between June and July before a return in the late fourth quarter.
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