Stretching Bitcoin Activities Hints at the bottom of the market, potential reversion

1 day ago

0 19 2 minutes read

Stretching Bitcoin Activities Hints at the bottom of the market, potential reversion

The active addresses Bitcoin are approaching quarterly high, signal the potential capitulation of the crypto in the market that can feases price reversal from the latest correction.

The active addresses on the Bitcoin network increased at over 912.300 28. February, the level was not seen from 16. December 2024. years, when bitcoin (Btc) trades about $ 105,000, Glass The data show.

The recommendation of active addresses can signal the “capitulation moment” for the crypto market, toward to the CRIPTO Intelligence Platform IntoTheblock. The firm noted 28. February post on X:

“Historically, spikes in chain activities often coincide with market peaks and the bottom of guided panic sellers comes out and opportunistic customers.”

“Although no metrics guarantee a price reversal, this transfer suggests that the market could be on a crucial turning point,” Post added.

In the financial markets, the capitulation refers to investors who sell their positions in panic, which leads to a significant price drop and signal directly to the market before the beginning of the next Usttrend.

Bitcoin must contain above $ 80,500 to avoid further losses

The ability to stay above 80,500 thresholds can act as a “potential catalyst on market stabilization”, according to Stelli Zlatarevi, an editor dispatcher on a digital investment platform someone.

Zlatareva said Conistelegraph:

“Options data indicate that BTC’s ability to return $ 80,500 a key factor in scope. It could open the way further, while the failure can lead to further testing on patina.”

However, Bitcoin can review this key support if its price decreases below $ 84,000.

The potential correction below $ 84,000 would launch long-term liquidations worth $ 1 billion in all scale, Blacksmith The data show.

Despite short-term volatility, the price of bitcoin is closer to the bottom of the market, according to the market peaks, a technical indicator used to determine whether the asset is overwhelmed whether the asset is transferred by whether the asset is overwhelmed by the asset whether the asset is overwhelmed by the asset is too hard or retail.

Bitcoin’s MVRV Z-SCORE was standing in 201 March, signaling that the price of Bitcoin approaches green territory at the bottom of the chart, becoming more and more res-sales, Glass The data show.

https://www.youtube.com/vatch? v = k980_6djfiu

Journal: Tips SCB 500K BTC, sec delay Ether ETF options and more: Hodler’s Digest, 23. February – Mar.