These scales wear the temperature while Bitcoin remains optimistic: Cryptoquant

Bitcoin (BTC) is on the emerging market, but some scales indicate that the cryptocurrency may have reached a short -term top. This means that BTC may face a great correction of the prices before another march declined.

A a report From the market analysis platform, Cryptoquant revealed that the scales that seem to be a temperature are those that relate to the growth of bitcoin. Regardless, the overall conditions of Bitcoin remain bullish, and the Cryptoquant is 80 years old. Historical data shows that BTC continued to gather, provided that the index remains above 50.

The demand standards are the high temperature

Codable analysts stated that the whale -kept BTC balances increased by 2.8 % during the past month. They also estimate the growth of Bitcoin demand at 229,000 BTC in the same time frame. This number is close to the growth of the demand registered in December 2024 at 279,000 BTC when the cryptocurrency rose to $ 100,000 for the first time.

These steps often precede a slowdown in the accumulation of whales, and as analysts always say, BTC needs a strong demand to keep a gathering.

In addition, unreasonable profit margins of bitcoin traders approached a level that often indicates possible resistance to prices. According to historical data, the increase in Bitcoin prices tends to slow down whenever the scale is approaching 40 % or expresses the 30 -day moving average, which is currently 19 %.

At that time, BTC gathered to $ 111,000 last week, the margin reached 32 %. This means that it is approaching 40 %, which is the level that carries a sign of high temperature.

Bitcoin decreases to less than 104 thousand dollars

Analysts believe that $ 120,000 can be the next main resistance level for BTC if it continues to gather. This is because $ 120,000 is the upper range of the price of investigators-hana merchants, the unintended profit margin sits 40 %. Historical data indicates that this upper range has been a major resistance during the bull markets.

While BTC is still facing a constant mobilization, the original has decreased to less than $ 104,000 at the time of writing this report. The data from CoinmarketCap showed that BTC 2 % decreased in 24 hours, decreased from the level of $ 105,000.

Meanwhile, analysts revealed that BTC investors were aware of some profits after the last prices, but at moderate levels compared to previous markets. Thus, there is no evidence indicating that the bull cycle ends; In fact, market conditions indicate the continued strength in the bitcoin pathway.